October 5th 2026, 7:53 PM
US Treasury Seeks Stablecoin Custody Trust Bank Charter
Key Summary
Modern Treasury has applied to the Office of the Comptroller of the Currency (OCC) to establish a US national trust bank that would provide digital asset custody and related fiat services, including stablecoin custody. The proposed bank would operate separately from the company's existing payments business, which has facilitated over $600 billion in payments. If approved, the bank would not issue stablecoins or make loans, but would allow customers to custody and move stablecoins and fiat through an integrated service. Modern Treasury co-founder Matt Marcus stated that stablecoins are foundational economic infrastructure for the future.
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Modern Treasury Seeks US Trust Bank Charter for Digital Asset Custody
The payments infrastructure company is seeking federal approval to offer stablecoin custody and related fiat services through a limited-purpose national trust bank.Implications for US Stablecoin Market
This move could pave the way for Modern Treasury to become a major player in the US stablecoin market, potentially rivaling established players such as Paxos and Coinbase Custody.#Stablecoin#US#Crypto#Treasury