Bastion wins OCC approval for national trust bank charter, expands stablecoin custody

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What new services can Bastion offer thanks to the conditional approval from the U.S. Office of the Comptroller of the Currency?

How does the conditional approval as a federal trust bank change the U.S. digital asset market?

Does Bastion's federal trust bank approval allow it to conduct traditional banking services like deposits or loans?

Bastion wins OCC approval for national trust bank charter, expands stablecoin custody — Image source: Unblock Media

Bastion secures OCC preliminary nod for national trust bank charter
Charter authorizes federal stablecoin custody; deposits and loans remain prohibited

On September 19, 2026, Bastion Platforms National Trust Company achieved a regulatory milestone as it received preliminary conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter. This OCC action enables Bastion to streamline its operations under a single federally regulated entity, marking a significant shift from its previous New York state trust charter and underscoring growing federal oversight in digital assets.

With the new charter, Bastion is authorized to provide stablecoin custody, digital wallet services, payment infrastructure, and white-label stablecoin issuance—all under direct federal supervision. The charter brings enhanced regulatory clarity to Bastion’s stablecoin services at a national level.

Despite the federal approval, the charter restricts Bastion from accepting deposits or issuing loans. The company continues to operate as an uninsured trust bank, without access to FDIC insurance or direct Federal Reserve facilities.

Bastion’s regulatory advancement underscores heightened federal engagement in stablecoin oversight and reflects ongoing efforts to strengthen the regulatory framework for stablecoin activities within the digital asset sector.