Bastion, a stablecoin infrastructure provider for global enterprises and financial institutions, has received preliminary conditional approval from the Office of the Comptroller of the Currency for a national trust bank charter, which will let it operate as Bastion Platforms National Trust Company. The main objective is to bring Bastion’s stablecoin custody, wallets, payment infrastructure, and white-label issuance services under a single federally regulated entity, adding OCC oversight to the New York state trust charter it acquired in 2025, so it can offer fiduciary custody of USDC and other GENIUS Act-compliant digital assets alongside minting, redemption, and fiat conversion for enterprise clients. Bastion does not issue stablecoins itself and will not take deposits or carry FDIC insurance; it continues to provide technology and operational infrastructure to other regulated issuers. Key players include Bastion CEO Nassim Eddequiouaq, who has framed the federal charter as a tool for serving major financial institutions launching stablecoin products, and the company’s newly appointed advisors, including former senior leaders from American Express, Morgan Stanley, EY, and Optum.

Bastion Receives Conditional OCC Approval for a National Trust Bank Charter