Key Highlights: Stablecoin payments platform Rain has submitted an application to the Office of the Comptroller of the Currency (OCC) for a national trust-bank charter. Operating as a New York subsidiary named Rain National Trust bank, the proposed entity plans to provide fiduciary digital asset and dollar custody, stablecoin reserve management, and institutional token issuance ...
Key Highlights: Payments infrastructure company Rain has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish Rain National Trust Bank. If granted approval, the proposed entity will offer fiduciary custody for digital assets and U.S. dollars, manage reserves for permitted stablecoin issuers, and issue USD-backed stablecoins without functioning as ...
Key Highlights: Firms like Rain and Modern Treasury are actively pursuing national trust bank charters to offer digital asset custody and fiduciary backing under federal oversight. The Independent Community Bankers of America (ICBA) has filed a lawsuit against the OCC and Comptroller Jonathan Gould, arguing the agency exceeded its authority by granting light-touch charters to ...
Key Highlights Firms like Rain and Modern Treasury are actively pursuing national trust bank charters from the Office of the Comptroller of the Currency (OCC) to provide federally regulated custody and fiat services. The Independent Community Bankers of America (ICBA) filed a federal lawsuit against the OCC and Comptroller Jonathan Gould, asserting the agency exceeded ...
Key Highlights Bastion has received conditional approval from the Office of the Comptroller of the Currency to form Bastion National Trust Bank, a non-depository national trust bank focused on digital asset custody and payment-clearing services. The approval, documented in OCC Corporate Decision 1391 dated September 18, provides a federal regulatory framework for institutional-grade digital asset ...