Modern Treasury filed with the OCC for a national trust bank charter to custody digital assets — no lending, no stablecoin issuance, just a federally supervised custody layer on top of its payments ra

What happened: Modern Treasury applied to the OCC to establish Modern Treasury National Trust Bank, a federally regulated limited-purpose national trust bank for digital asset custody and related fiat services. Key numbers: Existing payments business has facilitated more than $600 billion in payments. Why it matters: The application joins a broader push by crypto and payments companies for national trust bank charters. Bastion and Ripple have conditional approvals, Circle and BitGo have final approvals, and Kraken parent Payward, Zerohash and Block have also applied.

Modern Treasury applied to the OCC to establish Modern Treasury National Trust Bank, a federally regulated limited-purpose national trust bank for digital asset custody and related fiat services.

The application joins a broader push by crypto and payments companies for national trust bank charters. Bastion and Ripple have conditional approvals, Circle and BitGo have final approvals, and Kraken parent Payward, Zerohash and Block have also applied.