Bastion Wins Conditional OCC Approval For National Trust Bank Charter
Summary
Bastion received conditional approval from the OCC to form Bastion National Trust Bank as a non-depository national trust bank focused on custody and digital asset services. The charter is not a standard banking license and does not permit deposit-taking. It would give Bastion a federal regulatory framework for institutional custody, fiduciary oversight, audits, and supervised digital asset payment-clearing activities. Bastion still must meet OCC pre-opening requirements, including capital, management, compliance, systems, and operational readiness, before launch. The approval reflects a broader shift of crypto infrastructure into traditional banking regulation.
