Bastion Wins Conditional OCC Approval for National Trust Bank Charter
- —OCC approved Bastion's conversion into a national trust bank under Charter No. 27198
- —The application was filed on March 30, 2026, a process lasting nearly six months
- —The bank will not accept deposits and will not carry FDIC insurance
- —Approved activities include stablecoin custody, fiat and USDC conversion, and white-label issuance
Why it matters: A federal charter for stablecoin infrastructure reinforces the trend of crypto firms being folded into US banking regulation.
Source: Crypto Daily