According to Huoxing Finance, the 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 founders of Circle.
Stablecoin startup Augustus secures OCC bank charter and raises $40M
MarsBitShare
Summary
Stablecoin regulation advanced as Augustus, a stablecoin bank, obtained a federal bank charter from the OCC—the eighth such charter since 2010. The company also raised $40 million in a funding round backed by Valar Ventures (Peter Thiel), Creandum, Ramp, Deel, and the founder of Circle. The charter aligns with broader CFT (Countering the Financing of Terrorism) initiatives, signaling regulatory progress in the sector.
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