Augustus
API platform for global payments and clearing in stablecoins and fiat
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Augustus is an API-first banking and clearing platform for global financial institutions, enabling payments in both fiat and stablecoins. Its core capabilities include sending and receiving fiat and stablecoin (e.g., USDC) payments via API, managing multi-currency and virtual accounts, executing instant fiat-to-stablecoin conversions (on/off-ramp), and receiving real-time transaction notifications via webhooks. The platform supports fiat currencies like EUR, GBP, USD, and USDC on Ethereum, Solana, and Polygon. Users integrate via the official TypeScript SDK or REST API, test in a sandbox environment, and leverage automated reconciliation, refunds, and currency conversion for 24/7 global money movement.
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About Augustus
Augustus (formerly Ivy) is a digital bank that received conditional approval from the OCC in May 2026 to establish Augustus Bank, N.A., positioned as the first clearing bank for the AI era. Its core business is providing instant, always-on clearing for major Western currencies (USD and EUR) to global financial institutions, built on a proprietary core banking system designed for machine-to-machine, agent-initiated workflows rather than human-operated legacy systems.
The company's narrative centers on upgrading Western currency infrastructure: while 90% of global trade is invoiced in dollars or euros, the existing correspondent banking model is closed 115 days a year and takes two days to settle. Augustus aims to replace this with stablecoin-native, programmable money clearing that operates 24/7 at computational speed. Its European subsidiary already processes euro clearing, and the US bank charter would extend this to dollars.
Market pain points addressed include: legacy banks' average age (over 100 years), fintechs' inability to innovate on core money movement, and competitive pressure from China's CIPS (4,800 banks connected) and BRICS Pay (launching 2026) that bypass SWIFT. Augustus' FDIC approval requires $73.66M initial capital, a 10% minimum leverage ratio, and opening within one year. Its subsidiary Juno Moneta handles stablecoin issuance and redemption.
In the past six months (Feb-Aug 2026), Augustus received OCC conditional approval (May 11), obtained FDIC deposit insurance approval with specific conditions, and disclosed that its US dollar services are not yet operational—the bank must still secure Federal Reserve approval. Documentation shows some features (e.g., USD accounts, multi-currency exchange) are marked as "coming soon" or in testing, and the company's public stance on issuing its own stablecoin has shifted. The bank has not yet opened, and its proprietary platform (Marble) has not proven cost reductions or sustained payment volumes.
Founded in 2022 under the name Ivy, Augustus initially operated as a European payments firm before pivoting to build a technology-first bank for global dollar clearing. Its core platform, Marble, was built from scratch to handle transactions across both traditional rails (Swift, ACH) and stablecoin networks, positioning the company at the intersection of legacy finance and digital assets.
A pivotal milestone came in May 2026, when Augustus received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) for a national bank charter — only the eighth such approval since 2010. This charter, once finalized, would allow Augustus to operate as a federally regulated bank with direct access to dollar payment rails, eliminating the need for intermediary correspondent banks.
In July 2026, the company closed a $180 million Series B round led by Tiger Global, at a $1 billion valuation — making it a unicorn in roughly four years. The round included participation from Hummingbird, QED Investors, and executives from major fintechs such as Nubank, Ramp, Circle, Revolut, and Coinbase. Proceeds were earmarked for meeting OCC capitalization requirements, expanding headcount, and scaling the Marble platform.
Augustus already processes billions of dollars in transaction volume, with clients including crypto exchange Kraken. Its European entity, Ivy Pay Oy, holds licenses across the EEA and provides euro clearing services. The company plans to expand from Europe into Latin America, Southeast Asia, the Middle East, and Africa, with the long-term mission of "dollarizing the world" by giving international financial institutions direct, always-on access to USD accounts.
Key Augustus developments in the past six months: On May 8, 2026, it received conditional OCC approval to establish Augustus Bank, N.A. as a full-service national bank positioned as a "clearing bank for the AI era" (); on July 31, the FDIC approved deposit insurance, with minimum capital of $73.66 million and a leverage ratio of at least 10% for three years (). During the period, it closed a $180 million Series B led by Tiger Global, bringing total funding to $210 million ().
Future focus: await Federal Reserve approval for the holding company, and separately apply for a permitted payment stablecoin issuer license under the GENIUS Act, with subsidiary Juno Moneta handling issuance/redemption, custody, conversion, and payments (). Officially, it will use its proprietary core banking platform Marble to provide 24/7 dollar clearing for global financial institutions, supporting AI agents and stablecoin settlement, upgrading Western currency clearing infrastructure ().
Ferdinand Dabitz (Co-Founder & CEO) – German entrepreneur, Thiel Fellow, previously founded Ivy (payments company).
Greg Quarles (President) – Former OCC examiner and bank executive; led United Texas Bank, Green Dot Bank, and H&R Block Bank.
Joe Schenone (CFO) – Ex-JPMorgan and MUFG; previously turned two tech companies into chartered banks.
Kyle Steed (Chief Risk Officer) – Former bank regulator; most recently interim CRO at United Texas Bank.