Bastion receives conditional approval for national trust bank charter from OCC

Stablecoin infrastructure firm Bastion has received preliminary conditional approval from the Office of the Comptroller of the Currency (OCC) for a national trust bank charter. Operating as Bastion Platforms National Trust Company, the firm will provide stablecoin custody, wallet services, and payment infrastructure under federal oversight. Bastion, which previously obtained a New York trust charter in February 2025, does not issue its own stablecoins but provides technical and compliance stacks for enterprise projects. The company also announced the appointment of four new advisors, including former executives from American Express, Genesis, Morgan Stanley, and Optum Financial.