Bastion Lands Conditional Approval for National Trust Bank Charter

Bastion, a stablecoin infrastructure provider, has received preliminary conditional approval from the Office of the Comptroller of the Currency (OCC) for a national trust bank charter in the US.

The charter will enable Bastion to establish a new entity, Bastion Platforms National Trust Company, which will provide fiduciary custody of USDC and other GENIUS Act-compliant digital assets, white-label stablecoin wallet and issuance services for enterprise clients.

Nassim Eddequiouaq, CEO of Bastion, notes that stablecoins have 'moved from emerging technology into core financial infrastructure,' highlighting the need for a different standard of trust, governance, and regulatory rigor.

With the OCC authorization, enterprises and financial institutions can now access stablecoins through a federally regulated counterparty, with the controls and oversight they already expect from their banks.