Bastion Granted Conditional Approval for National Trust Bank License by the OCC

ChainCatcher report: On September 18, 2026, stablecoin infrastructure company Bastion announced that the U.S. Office of the Comptroller of the Currency (OCC) has granted it preliminary conditional approval for a national trust bank charter. This charter enables Bastion to consolidate stablecoin issuance, custody, and redemption services under a single federally regulated entity, supplementing its existing state licenses with OCC federal oversight. The company will operate under the name Bastion Platforms National Trust Company, offering stablecoin custody and wallets, payment infrastructure, and white-label issuance services. Bastion previously obtained a New York trust charter in February 2025. Under the new charter, the company will provide fiduciary custody of USDC and other digital assets compliant with the GENIUS Act, along with white-label stablecoin wallets and issuance services (minting, redemption, and exchange), while continuing to provide technology and operational infrastructure to other regulated issuers. Bastion itself does not issue stablecoins; instead, it primarily provides technology, operations, and compliance infrastructure for enterprise stablecoin projects. Bastion has also appointed four new advisors: Colleen Taylor (Board Member, former President of American Express U.S. Merchant Services), Michael Patterson (Board Member, former Chief Compliance Officer of Genesis), Stuart Breslow (Advisor, former Chief Compliance Officer of Morgan Stanley), and Gabriella Fitzgerald (Advisor, former CEO of Optum Financial’s Healthcare Payments division).