Bastion wins OCC trust charter for stablecoin custody and payments

- OCC grants Bastion preliminary approval for national trust charter, expanding federal oversight - Charter allows Bastion to unify stablecoin custody, wallet, and payment services under one roof On September 19, 2026, CoinDesk reported that Bastion Platforms secured preliminary conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter. This move brings its stablecoin custody, wallet operations, and payment infrastructure under a single federally regulated entity, and the OCC’s decision places Bastion directly under federal supervision. This structure therefore streamlines fragmented digital asset services and delivers regulatory clarity across its operations. The charter strengthens Bastion’s compliance framework and supplements its existing state licenses; however, it does not permit the company to accept deposits or issue loans. This latest charter enables Bastion Platforms to merge previously siloed services, including white-label issuance and payment processing, under one national trust bank structure. As a result, federal regulation now brackets the company’s main functions, and this oversight supports expanded offerings to institutional and enterprise clients while reinforcing standards for digital asset oversight. According to CoinDesk on September 19, 2026, Bastion remains focused on developing stablecoin custody, wallet services, payment rails, and issuance solutions within the regulatory guardrails set by federal oversight. The OCC’s conditional approval therefore marks a pivotal shift for the stablecoin industry and brings companies like Bastion into closer alignment with both federal and state regulators.