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Ramp Seeks National Trust Bank Charter for Digital Asset Custody

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Ramp Seeks National Trust Bank Charter for Digital Asset Custody

Finance platform Ramp aims to form a national trust bank that would offer fiduciary investment management and custody of digital assets, the company said in a Monday (Oct. 19) post on X.

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Ramp submitted an application to establish the proposed Ramp National Trust Bank to the Office of the Comptroller of the Currency (OCC) on Friday (Oct. 16), according to the post.

“The proposed trust bank would bring these services under a consistent federal regulatory framework, helping us build great products alongside our banking partners to further our mission to save businesses time and money,” Ramp said in the post. “It will not take deposits or make commercial loans.”

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Ramp’s announcement came days after the company’s co-founders and co-CEOs, Eric Glyman and Karim Atiyeh, said in a blog post that the company was valued at $60 billion.

Glyman and Atiyeh formed Ramp seven years ago to “save companies time and money” and have since grown the company to serve 85,000 businesses and generate $2 billion in annualized revenue, according to the Thursday (Oct. 15) post.

“Our mission hasn’t changed. It’s just gotten bigger,” Glyman and Atiyeh said in the post. “This year we built Stack for faster closes. Accounts Receivable to get you paid. AI Spend Management to measure your return on intelligence.


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