Modern Treasury, a provider of infrastructure for money movement, has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish Modern Treasury National Trust Bank. If approved, the entity would operate as a federally regulated, limited-purpose national trust bank under OCC supervision. It would offer custody services connected to the company's existing payments and settlement capabilities.
Scope of the proposed trust bank
The proposed bank would give Modern Treasury customers a single custody arrangement that links the company's payments and settlement functions with digital asset custody services. Combined with Modern Treasury's existing infrastructure, the structure would allow customers to hold and move both stablecoins and fiat currency within one integrated set-up.
The application limits what the bank could do. The entity would not make loans and would not issue stablecoins. It would offer only the services authorised by the OCC, which makes it a custody-focused institution rather than a full-service bank.
The company's CEO said Modern Treasury views stablecoins as foundational economic infrastructure and has already fully integrated them into its payments platform. In the company's view, the charter would add direct, federally supervised digital asset custody and related services to the infrastructure its customers already use.
The application therefore combines stablecoin and fiat movement with federally supervised custody within one corporate group. Lending and stablecoin issuance would remain outside the proposed bank's remit. For a business built on payment infrastructure software, this would mean holding a banking charter for custody activities rather than relying only on external partners for that function.
Separation from existing operations
Modern Treasury will continue to provide payment infrastructure through its software and its payment service provider (PSP) business. The proposed bank would operate alongside these activities as a separate, limited-purpose banking entity.
The company has stated that its existing software and payment services will continue independently of the charter application. Nothing changes for its customers, bank partners, or stablecoin partners as a result of the filing. Current relationships across its payments operations therefore remain in place while the regulatory process runs its course.
Regulatory process and next steps
The application is subject to review and approval by the OCC. Modern Treasury National Trust Bank will not begin operations unless and until it obtains the required regulatory approvals and final authorisation from the OCC. The company has not disclosed an expected timeline for the review or a target date for launching the bank.
If the charter is granted, Modern Treasury customers would have access to stablecoin and fiat custody under direct federal supervision, delivered alongside the payment and settlement tools they already use. Until then, the company's services continue unchanged.
