Bastion Secures Conditional Approval for US Trust Bank Charter
Bastion, a stablecoin infrastructure provider, has received conditional approval from the Office of the Comptroller of the Currency (OCC) for a US trust bank charter. This move adds federal supervision to Bastion's existing state licenses.
The proposed bank will offer services such as stablecoin custody and wallets, payment infrastructure, and white-label issuance from a single federally regulated entity. However, it cannot accept deposits or make loans, distinguishing it from conventional commercial banks.
Bastion has been working towards federal supervision since acquiring its New York trust charter in February 2025. The company raised $14.6 million in a funding round led by Coinbase Ventures in September 2025, with participation from other notable investors including Sony and Samsung's investment subsidiaries.