Payward, the parent company of cryptocurrency exchange Kraken, has applied for a national trust charter with the Office of the Comptroller of the Currency, co-CEO Arjun Sethi wrote Friday in a blog post.

The charter, if approved, would establish Payward National Trust Co., which would provide fiduciary custody and other services for crypto.

Kraken is one of several crypto firms to seek a national trust charter over the past year under Comptroller Jonathan Gould. Several including Ripple, Paxos, Crypto.com and Coinbase have been successful in their pursuits.

Payward said a national trust charter would complement its special-purpose depository institution, Kraken Financial, which