Modern Treasury seeks US trust bank charter for digital asset custody
Summary
Modern Treasury applied to the OCC to establish a federally regulated national trust bank focused on digital asset custody and fiat services. If approved, the bank would let customers custody and transfer stablecoins and fiat through an integrated platform, but would not issue stablecoins or make loans. The proposed bank would be separate from the company’s existing payments business, which has processed over $600 billion. The application reflects growing interest in national trust bank charters among crypto and payments firms; several peers have received approvals or filed applications.
