Bastion Secures Conditional Approval for US 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 US trust bank charter. This move adds federal supervision to Bastion's existing state licenses.

The proposed bank will not accept deposits or make loans, setting it apart from conventional commercial banks. Instead, it will focus on stablecoin custody and wallets, payment infrastructure, and white-label issuance from a single federally regulated entity.

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 notable investors including Sony and Samsung's investment subsidiary.