The Office of the Comptroller of the Currency (OCC) granted conditional approvals for three new national trust banks on Friday (Sept. 18), extending federal bank charters to firms involved in stablecoin and AI-related financial services.
The approvals cover Agora National Trust Bank and Catena Trust Bank, while the OCC also allowed Bastion Platforms Trust Company to convert into a national bank.
Bastion CEO Nassim Eddequiouaq told The Wall Street Journal in an interview Friday that the federal charter positions the company to serve as a regulated partner for financial institutions. "If you are a bank, you cannot rely on simple fintech unless they are federally regulated," Eddequiouaq said. "We can now be that regulated partner for all of the largest financial institutions in and outside of the U.S., who want to launch products here."
