Bastion wins conditional OCC approval for national trust bank charter
Bastion Platforms National Trust Company will offer stablecoin custody and wallets, payment infrastructure and white-label issuance from a single federally regulated entity.
Stablecoin infrastructure provider Bastion said the Office of the Comptroller of the Currency (OCC) had granted it preliminary conditional approval for a US trust bank charter.
The charter adds federal supervision from the OCC to the state licenses Bastion already holds, according to a news release on Friday. Still, the proposed bank could not accept deposits or make loans, separating it from a conventional commercial bank.
Licensed as Bastion Platforms National Trust Company, it will offer stablecoin custody and wallets, payment infrastructure and white-label issuance from a single federally regulated entity.