Stablecoin infrastructure company Bastion received conditional approval from the OCC for a national trust bank charter

Stablecoin infrastructure company Bastion announced on September 18, 2026, that the Office of the Comptroller of the Currency (OCC) has granted it preliminary conditional approval for a national trust bank charter. This charter allows Bastion to integrate stablecoin issuance, custody, and exchange products under a single federal regulatory entity, adding OCC federal oversight on top of its existing state licenses. The company will operate under the name Bastion Platforms National Trust Company, providing stablecoin custody and wallets, payment infrastructure, and white-label issuance services.

Bastion previously obtained a New York trust license in February 2025. Under the new charter, the company will offer custodial services for USDC and other digital assets compliant with the GENIUS Act, as well as white-label stablecoin wallet and issuance services (minting, redemption, and exchange), and continue to provide technology and operational infrastructure to other regulated issuers. Bastion itself does not issue stablecoins but primarily provides technology, operations, and compliance stacks for enterprise stablecoin projects.

Bastion also appointed four new advisors: Colleen Taylor (Board, former President of American Express U.S. Merchant Services), Michael Patterson (Board, former Chief Compliance Officer of Genesis), Stuart Breslow (Advisor, former Chief Compliance Officer of Morgan Stanley), Gabriella Fitzgerald (Advisor, former CEO of Optum Financial Medical Payments).