Bastion Receives Conditional OCC Approval for National Trust Bank Charter

Bastion has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter, marking a regulatory milestone for the company.

Approval Remains Conditional

The OCC’s decision does not represent final authorization to begin operating as a national trust bank. Bastion must satisfy the conditions outlined by the regulator before receiving full approval and commencing chartered activities.

What the Charter Could Mean

A national trust bank charter can allow an institution to provide certain fiduciary and custody services under federal oversight. The scope of Bastion’s permitted activities will depend on the terms of the OCC’s approval and the company’s ability to meet applicable regulatory requirements.

The development highlights the continued use of regulated banking structures by companies operating in or serving the digital-asset sector. Further details about Bastion’s planned services and the conditions attached to the approval were not provided in the available update.