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Modern Treasury seeks OCC approval for a trust bank for crypto custody
The payments infrastructure company filed with the Office of the Comptroller of the Currency to create a limited-purpose national trust bank for stablecoin and fiat custody services.
Modern Treasury has applied to the Office of the Comptroller of the Currency to establish a federally regulated, limited-purpose national trust bank in the United States, according to Cointelegraph.
The company’s proposed entity, Modern Treasury National Trust Bank, would be designed to provide digital asset custody and related fiat services to customers.
If the charter is approved, the bank would enable Modern Treasury customers to custody and move stablecoins and fiat through an integrated service, the outlet said.
The application was filed as part of Modern Treasury’s broader push to expand regulated digital asset custody and payment related capabilities under federal oversight, Cointelegraph added.