Bastion Secures OCC Approval for National Trust Company Structure

Bastion, a stablecoin platform infrastructure firm, has received conditional approval from the Office of the Comptroller of the Currency (OCC) to change its structure from Bastion OCC to Bastion Platforms National Trust Company.

This approval will allow Bastion to operate all its stablecoin-related services in a federally regulated company. The license includes white-label stablecoin issuance, enabling companies to create dollar-backed tokens using Bastion without building the entire ecosystem.

Under the proposed model of a national trust company, Bastion will offer multiple services under one federally controlled organization, including custody of stablecoins, fiduciary wallets, white-label issuance, minting and redemption assistance, and conversion from fiat currency to USDC for eligible custody clients.