ChainCatcher report: Stablecoin bank Augustus has received a federal bank charter from the U.S. Office of the Comptroller of the Currency (OCC), becoming the eighth institution to achieve this license since 2010. It has also completed a $40 million funding round, with investors including Valar Ventures (founded by Peter Thiel), Creandum, Ramp, Deel, and the founder of Circle.
Stablecoin startup Augustus secures OCC bank charter and $40 million in funding.
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Summary
The stablecoin startup Augustus has received a federal bank charter from the OCC, becoming the first institution focused on stablecoins to obtain such a license under the new CFT and stablecoin regulatory guidelines. The company has also closed a $40 million funding round backed by Valar Ventures, Creandum, Ramp, Deel, and the founder of Circle. The charter enables Augustus to operate as a depository institution dedicated to stablecoin compliance and CFT measures.
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