Modern Treasury Applied for National Trust Bank Charter
The payments platform seeks to offer federally regulated custody services for fiat currency and stablecoins.
Updated on Oct. 5, 2026 in Banking
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Modern Treasury has officially filed an application with the Office of the Comptroller of the Currency to launch the Modern Treasury National Trust Bank. The proposed entity would function as a limited-purpose national trust bank focused on digital asset custody.
Why it matters
The company aims to provide its customers with direct, federally supervised custody services for both fiat and stablecoins. This move marks a strategic effort to formalize digital asset support within its existing payments and settlement infrastructure.
The proposed national trust bank would exclusively provide custody services and is explicitly prohibited from issuing stablecoins or originating loans. Modern Treasury recently expanded its capabilities by acquiring the company Beam in 2025.
The players
Modern Treasury
This is a technology company that builds software to facilitate payments and settlements for businesses.
Office of the Comptroller of the Currency
This is a federal bureau within the United States Department of the Treasury that charters, regulates, and supervises all national banks.
Independent Community Bankers of America
This is a national trade association that advocates for the interests of community banks across the United States.
The details
Modern Treasury intends to operate a federally regulated institution to secure digital assets while maintaining its core payments and settlement platform. The company has already integrated stablecoin support into its services, which it now seeks to bridge with the oversight of a federal trust charter.
Timeline
Modern Treasury acquired the company Beam in 2025.
The Independent Community Bankers of America filed a lawsuit against the OCC in September 2026.
Modern Treasury announced its bank charter application on October 5, 2026.
Market Dynamics
This application follows the precedent of the Independent Community Bankers of America lawsuit against the OCC regarding digital asset firm charters. It highlights an ongoing structural tension in the financial sector regarding the expansion of non-traditional firms into federally regulated banking.
This regulatory move could eventually offer businesses more secure, federally compliant pathways for holding digital assets and stablecoins. For now, it signals a shift toward higher oversight for institutional clients currently utilizing digital asset settlement services.
The takeaway
The application reflects a broader trend of fintech firms seeking the stability and legitimacy offered by federal bank charters. Businesses should monitor the Office of the Comptroller of the Currency for future decisions that could impact the standard for digital asset custody compliance.
Further reading
Learn more about the current regulatory environment for digital assets by exploring our section on Banking.
Source note: This article includes information reported by PYMNTS.
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