Bastion Conditionally OK for US Trust Bank
The bank will operate as a federally chartered trust bank and provide trust and fiduciary services under OCC oversight.
- On Friday, Bastion, a stablecoin infrastructure provider, announced the Office of the Comptroller of the Currency granted preliminary conditional approval for a national trust bank charter, enabling federally regulated custody and issuance services.
- CEO Nassim Eddequiouaq stated stablecoins have moved into "core financial infrastructure," requiring "a different standard of trust, governance and regulatory rigor" as enterprises demand regulated counterparties for stablecoin programs.
- Bastion strengthened its leadership with four new appointments: Colleen Taylor from American Express, Michael Patterson from Genesis, Stuart Breslow from Morgan Stanley, and Gabriella Fitzgerald from Optum Financial.
- The charter adds federal OCC supervision to state licenses Bastion already holds, fortifying its ability to serve enterprise clients through one regulated entity offering custody, wallets, and white-label issuance.
- Institutional stablecoin adoption is accelerating, and Bastion's federal charter positions it among a small group of elite firms meeting enterprise-grade regulatory standards as demand outpaces qualified providers.
19 Articles
19 Articles
Cointelegraph
The New York LedgerBastion conditionally OK for US trust bank
Bastion wins conditional approval for US trust bank charter
Bastion Receives Conditional OCC Approval for a National Trust Bank Charter
The charter allows Bastion to bring its stablecoin issuance, custody and conversion products under one federally regulated entityAmidst regulatory momentum, Bastion appoints four new advisors, including former senior leadership from American Express, Morgan Stanley, EY and Optum
Bastion Wins OCC Trust Bank Nod After $40M Stablecoin Raise
What Did the OCC Approve for Bastion? Stablecoin infrastructure provider Bastion has received preliminary conditional approval from the Office of the Comptroller of the Currency to operate a U.S. national trust bank, moving its custody, payments and stablecoin infrastructure business under direct federal supervision. The approval, dated September 18, covers Bastion Platforms Trust Company’s conversion into Bastion Platforms National Trust Compan…
Bastion conditionally OK for US trust bank - Invest In Crypto News
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 […]
Bastion received conditional approval under OCC Decision 1391 for a national trust agreement covering USDC custody, wallets, and white-label issuance.
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