Bastion Secures Conditional Approval for National Trust Bank Charter
- Bastion has received conditional approval from the Office of the Comptroller of the Currency (OCC) to form a national trust bank.
- The charter is non-depository and focuses on custody and digital asset services.
- The OCC’s Corporate Decision, dated September 18, allows Bastion to proceed with forming Bastion National Trust Bank.
- Pre-opening requirements such as capital, systems, and compliance must be satisfied before operations can commence.
This approval marks a significant step for Bastion in aligning with federal banking regulations through a national trust charter aimed at digital asset custody services under OCC oversight.
Bastion’s conditional approval highlights the trend of crypto infrastructure integrating into traditional banking regulation frameworks by securing federal trust charters for enhanced governance and regulatory clarity in digital asset management. Source
