Zaria Systems, a servicer specializing in digital asset-backed loans and securities, has applied with the Office of the Comptroller of the Currency for a national trust bank charter.
The Jackson, Wyo., company plans to form Zaria National Trust Bank to offer a single regulated counterparty to offer corporate trustee services for asset-backed securities, collateralized loan obligations, and other structured finance transactions. It would also offer agency services for syndicated and bilateral credit facilities and combine loan servicing and collateral management for banks and other direct lenders.
“Lenders, asset managers, and their investors increasingly need a fiduciary counterparty that can monitor collateral in real time, not just at the end of a reporting period,” Emily Barron, Zaria’s co-founder and CEO, said in the release.
“Filing for a national trust bank charter allows us to build that infrastructure inside a federally regulated institution, so lenders and their counterparties get the same regulatory clarity and credibility they already expect from a bank, applied to markets that have never had it before,” Barron added.