Why newly granted federal approval won’t save these 3 crypto banks
The OCC conditionally advanced Agora and Catena toward new national trust-bank charters and approved Bastion’s conversion from a New York trust charter. The uninsured institutions would be limited to trust-company activities and related services, with capital, liquidity, governance and supervisory requirements. Agora and Catena still need final approval to open; Bastion must complete its conversion. The decisions establish a repeatable federal pathway for stablecoin-related firms, but proposed rules remain unfinished and states contest the OCC’s authority. Federal charters may reduce regulatory fragmentation, yet they do not guarantee customers or commercial success: distribution, liquidity, partnerships and execution remain key competitive tests.
