Protego Trust

About Protego Trust

Protego Trust Bank, N.A. received conditional approval for a national bank charter from the Office of the Comptroller of the Currency (OCC) in February 2021, a significant milestone establishing it as a federally chartered trust bank. The company was founded by a team that includes CEO Chris Hunter, Chief Innovation Officer Greg Gilman, and Chief Legal Officer Mike Wasyl. Hunter brings a background from the traditional financial sector, including experience at institutions like Bank of America. Gilman has a history in technology and venture capital, co-founding Science Inc. and being an early-stage investor. This blend of traditional finance and digital asset expertise underpins the bank's strategy.

The institution is strategically positioned to serve the digital asset needs of institutional clients, including asset managers, hedge funds, and corporate treasuries. Its business model is designed to provide a vertically integrated suite of services, encompassing custody, trading, lending, and issuance for a wide range of digital assets. This structure aims to offer a secure and efficient one-stop solution for institutions navigating the digital asset space. By operating under a national trust bank charter, Protego aims to provide its clients with a higher level of security and regulatory compliance compared to other digital asset custodians. However, the bank has faced challenges in its path to full operation. After its conditional approval in 2021, Protego did not meet the necessary requirements to begin operations within the standard 18-month window, leading to the expiration of its charter in early 2023. The company has since expressed its intention to re-engage with the OCC to move forward with its operational launch.