Bastion Receives Conditional Approval from OCC to Apply for National Trust Bank

Stablecoin infrastructure company Bastion has received conditional approval from the Office of the Comptroller of the Currency (OCC) to apply for a national trust bank charter. Founded in 2023 by two former a16z crypto executives, Bastion focuses on providing white-label stablecoin issuance, reserve custody, customer wallets, and payment infrastructure for enterprises. Its investors include Coinbase Ventures, Sony Innovation Fund, and Samsung Next, with the latest funding round last year amounting to $14.6 million.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.