Bastion Secures Conditional OCC Approval for National 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 federal supervision will be in addition to the state licenses Bastion already holds.

The proposed bank, licensed as Bastion Platforms National Trust Company, will offer stablecoin custody and wallets, payment infrastructure, and white-label issuance from a single federally regulated entity.

Nassim Eddequiouaq, CEO of Bastion, said 'Stablecoins have moved from emerging technology into core financial infrastructure, and that requires a different standard of trust, governance, and regulatory rigor.'

Bastion has been building toward federal supervision since acquiring its New York trust charter in February 2025.

The company raised $14.6 million in funding in September 2025, led by Coinbase Ventures, with participation from Japanese tech giant Sony, the investment subsidiary of South Korean phone maker Samsung, the crypto arm of venture capital firm Andreessen Horowitz, and crypto VC firm Hashed.