SBI Digital Asset Holdings (SBIDAH), the digital assets subsidiary of Japanese financial services conglomerate SBI Holdings, has formally applied to the U.S. Office of the Comptroller of the Currency (OCC) for a federal banking charter. This application signals a major strategic pivot aimed at offering regulated institutional crypto services within the United States.
The subsidiary, tentatively named SBI Digital Trust Services US, is seeking a National Trust Bank Charter. If approved, this would allow SBIDAH to operate as a federally regulated custodian of digital assets, including Bitcoin, Ethereum, and tokenized securities, bypassing the need for separate state-by-state licensing. This structure is intended to appeal directly to large U.S. pension funds, asset managers, and corporate treasuries requiring the highest levels of regulatory compliance and segregation of duties.
The move underscores SBI’s aggressive global expansion strategy in the blockchain space. SBI Holdings, a major shareholder in Ripple (XRP) and operators of one of Japan’s largest crypto trading platforms, SBI VC Trade, views the U.S. regulatory framework—despite its complexity—as essential for attracting institutional capital. By obtaining an OCC charter, the company aims to reduce cross-border regulatory friction and establish itself as a primary link between Asian and Western institutional digital asset markets.
Analysts note that SBI’s application follows a growing trend among leading global financial institutions seeking formalized federal regulation for their crypto operations, viewing charters as necessary validation in the post-FTX environment. The process for obtaining an OCC charter is rigorous and typically takes between 18 months and two years, requiring the firm to demonstrate robust governance, stringent anti-money laundering controls, and operational readiness.
Source: Japanese Banking Giant’s Crypto Subsidiary Applies for US Banking Charter
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