Bastion Secures Conditional Approval for National Trust Bank Charter

Bastion, a stablecoin infrastructure firm, has secured conditional approval from the US Office of the Comptroller of the Currency for a national trust bank charter. The charter will enable Bastion to offer stablecoin custody and wallet services, payments infrastructure, and white-label issuance through a single federally regulated entity called Bastion Platforms National Trust Company.

The approval is subject to certain conditions, which are not specified in the report. Bastion has been seeking entry into a federal supervisory framework since obtaining a New York state trust charter in February 2025. The company raised $14.6 million in a September 2025 funding round led by Coinbase Ventures.

Bastion's CEO, Nassim Eddequiouaq, said that stablecoins have evolved from emerging technology to core financial infrastructure, and therefore require corresponding standards for trust, governance, and regulation. The company is one of several crypto companies pursuing a national trust bank charter, including Ripple, Circle, BitGo, Payward (the parent company of Kraken), Zerohash, and Block.