Bastion Wins Conditional OCC Approval for National Trust Bank Charter
Source Summary
Bastion Platforms National Trust Company has received conditional approval from the Office of the Comptroller of the Currency (OCC) for a national trust bank charter. The federally regulated entity will provide stablecoin custody and wallets, payment infrastructure, and white-label issuance services from a single platform.
Why it matters
This approval establishes a federally regulated framework for stablecoin services, marking a significant step in bringing cryptocurrency infrastructure under formal banking oversight.
What remains uncertain
The approval is conditional, indicating that final charter issuance depends on Bastion meeting additional requirements set by the OCC.
