A national trust bank is chartered by the Office of the Comptroller of the Currency under the same statute as any national bank, but its business is confined to trust and fiduciary activities. It carries no deposit insurance because it takes no deposits, and it is not subject to the Community Reinvestment Act.
The first digital-asset company to receive one was Anchorage, in January 2021, by converting a South Dakota trust company; the OCC attached an operating agreement setting capital and liquidity requirements as an enforceable condition. By 2026 the OCC kept a public list of pending digital-asset charter applications, and Block joined it with Builders Bank & Trust, N.A., proposed for Sioux Falls, South Dakota.
For a holder, the charter changes the supervisor and the legal frame around custody, not the fact of it: the bank still holds the keys.