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      Bastion Receives Conditional National Trust Bank Charter from US OCC

      The Office of the Comptroller of the Currency (OCC) has granted Bastion Platforms Trust Company a conditional approval to convert its New York state trust charter into a national trust bank charter. This decision, made on September 18, allows Bastion to operate as Bastion Platforms National Trust Company, positioning it among a select group of digital asset firms under federal banking oversight.

      The new charter, designated OCC Charter #27198, enables Bastion to provide a range of services related to stablecoin infrastructure, including fiduciary custody, white-label stablecoin issuance, wallet solutions, payments, minting, redemption, and fiat conversions involving compliant digital assets like USDC. However, the charter does not permit Bastion to take deposits or offer FDIC insurance.

      Founded in 2023 by former executives from Andreessen Horowitz’s crypto division, Bastion quickly established its regulatory framework, acquiring a New York limited-purpose trust charter in February 2025. The firm has also secured various state money transmitter licenses and raised $14.6 million in funding from notable investors including Coinbase Ventures, Sony Innovation Fund, and Samsung Next. Bastion has partnered with Sony Bank to provide stablecoin services, further solidifying its position in the market.

      The OCC's decision reflects a broader trend of integrating stablecoin infrastructure firms into the regulatory framework, as evidenced by the simultaneous approval of conditional trust charters for other companies like Catena and Agora. This shift signifies a move towards a more cohesive regulatory environment for firms operating in the digital asset space.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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