Modern Treasury Files for US Trust Bank Charter to Offer Stablecoin Custody

Payments infrastructure company Modern Treasury has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish Modern Treasury National Trust Bank, a federally regulated, limited-purpose national trust bank focused on digital asset custody. Announced on October 5, 2026, the proposed entity would allow Modern Treasury customers to hold and transfer stablecoins and fiat through an integrated service, though it would not issue stablecoins or extend loans.

"We believe stablecoins are foundational economic infrastructure for the future," said Modern Treasury co-founder and CEO Matt Marcus, noting that the company has fully integrated stablecoins into its payments platform. The proposed trust bank would operate separately from Modern Treasury's existing payments business, which has processed more than $600 billion in transactions across hundreds of organizations.

The application is part of a broader industry push by crypto and payments firms seeking national trust bank charters. Bastion and Ripple have received conditional OCC approvals, while Circle and BitGo have secured final approvals. Kraken parent Payward, Zerohash, and Block have also submitted applications of their own. Advocacy organizations have raised concerns about banks opposing the OCC's chartering process through litigation, signaling continued regulatory friction as more digital asset companies pursue federal banking credentials.