Bastion Secures Conditional OCC Approval for National Trust Bank Charter

Bastion has made significant strides in its bid to become a key player in the stablecoin infrastructure market. On September 18, 2026, the Office of the Comptroller of the Currency granted Bastion Platforms Trust Company conditional approval to convert into Bastion Platforms National Trust Company.

This move brings Bastion closer to federal banking supervision and clears a major hurdle for the company. However, it's essential to note that this is not a license to operate as a commercial bank but rather a path forward for stablecoin infrastructure.

The conditional approval is contingent on Bastion meeting supervisory conditions before it can operate as a national trust bank. The converted bank will be uninsured and cannot take deposits or be insured by the Federal Deposit Insurance Corporation.