Stablecoin infrastructure company Bastion said it has received preliminary conditional approval from the U.S. Office of the Comptroller of the Currency, or OCC, for a national trust bank charter.
The charter would allow Bastion to bring its stablecoin issuance, custody, and exchange products into a single federally regulated entity, while adding OCC supervision on top of its existing state licenses. The company said it will operate as Bastion Platforms National Trust Company, offering stablecoin custody and wallet services, payments infrastructure, and white-label issuance services.
Expanded scope under the new charter
Bastion said it previously obtained a New York trust charter in February 2025. Under the new charter structure, the company plans to provide fiduciary custody for USDC and other digital assets that comply with the GENIUS Act, as well as white-label stablecoin wallet and issuance services covering minting, redemption, and exchange.
The company added that it will continue providing technology and operational infrastructure to other regulated issuers. Bastion said it does not issue stablecoins itself and instead focuses on supplying technology, operations, and compliance infrastructure for enterprise stablecoin projects.
Four new advisers named
Bastion also announced four new advisers:
- Colleen Taylor, appointed to the board, previously served as president of U.S. Merchant Services at American Express;
- Michael Patterson, appointed to the board, previously served as chief compliance officer at Genesis;
- Stuart Breslow, appointed as an adviser, previously served as chief compliance officer at Morgan Stanley;
- Gabriella Fitzgerald, appointed as an adviser, previously served as CEO of healthcare payments at Optum Financial.