RAMP APPLIES FOR NATIONAL TRUST BANK CHARTER FROM OCC

Summary from the TLDR Fintech newsletter

Ramp applied to the OCC for a national trust bank charter that would let it offer fiduciary investment management and digital-asset custody under a federal framework, while not taking deposits or making commercial loans. The application comes just after Ramp raised $1.85 billion at a $60 billion valuation and amid growing legal and industry debate over the OCC's recent wave of trust-charter approvals for fintech and crypto companies.