Clearing Infrastructure Firm Lorum Applies for U.S. National Trust Bank Charter

Clearing and treasury infrastructure provider Lorum argues that correspondent banking relies on multiple layers of intermediaries, lacks transparency and can cut off services without warning. Its “named-account custody” model establishes a legal and regulatory link between each account holder and the custodian. Customer funds are fully backed by cash and cash equivalents, with no lending, as Lorum seeks to recast clearing, custody and cash management as fiduciary services.

Lorum said on April 8, 2026, that it had applied to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter. If approved, the company would be directly regulated by the OCC and gain direct access to core U.S. dollar clearing infrastructure. The OCC received 14 applications for new bank charters in 2025, nearly as many as in the previous four years combined. Lorum did not disclose any amount associated with the application or a review timeline.