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.

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Originally published by Cointelegraph. Read the full story at the source →