Stablecoin payment platform Modern Treasury has applied to the OCC to establish a national trust bank.

BlockBeats news, October 6 — According to an official announcement from stablecoin payment platform Modern Treasury, the company has submitted an application to the U.S. Office of the Comptroller of the Currency (OCC) to establish Modern Treasury National Trust Bank. If approved, the bank would operate as a federally chartered limited-purpose national trust bank supervised by the OCC and provide digital asset custody and related fiat services to Modern Treasury clients.

The proposed bank would integrate Modern Treasury's existing payment and settlement capabilities with digital asset custody services, offering clients a unified solution for stablecoin and fiat custody and transfers. The bank would not make loans or issue stablecoins.

Matt Marcus, co-founder and CEO of Modern Treasury, said the company believes stablecoins will become foundational economic infrastructure of the future and has already fully integrated stablecoins into its payment platform. He said the bank charter application is intended to add federally regulated digital asset custody and related services. Existing software and payment services will continue to be provided independently by the company, while the proposed bank would operate as a separate limited-purpose banking entity offering only services authorized by the OCC. The application still requires OCC review and approval, and Modern Treasury National Trust Bank will not begin operations until regulatory approval and final authorization are obtained.