Modern Treasury announced on October 5, 2026 that it had submitted an application to the Office of the Comptroller of the Currency to establish Modern Treasury National Trust Bank, a proposed federally regulated, limited-purpose national trust bank that would add digital-asset custody and related fiat services to the company’s existing payments platform.
Modern Treasury Co-Founder and CEO Matt Marcus said in the company’s press release that stablecoins are foundational economic infrastructure for the future, adding that Modern Treasury has now fully integrated stablecoins into its payments platform and that pursuing this charter will add direct, federally supervised digital-asset custody and related services to the infrastructure its customers already use.
The application doesn’t mean the proposed bank has been approved, and Modern Treasury would need the required regulatory approvals before the institution could commence business.
Marcus also highlighted the application in a thread on his official X account the same day:
What the Proposed Bank Would and Wouldn’t Do
The proposed institution would focus on digital-asset custody and related fiat services rather than traditional commercial banking.
If approved, it would operate as a federally regulated, limited-purpose national trust bank under OCC supervision, providing customers with a unified custody solution that integrates Modern Treasury’s existing payments and settlement capabilities with digital-asset and custody services.
Together, the company and the proposed bank would give customers an integrated way to custody and move both stablecoins and fiat.
| Proposed Structure | Detail |
| Regulator | Office of the Comptroller of the Currency |
| Charter type | Federally regulated, limited-purpose national trust bank |
| Core services | Digital-asset custody, related fiat services |
| Not permitted | Lending, stablecoin issuance |
Table 1. Key characteristics of the proposed Modern Treasury National Trust Bank, as described in the company’s press release.
The proposed bank would not make loans or issue stablecoins. That distinction matters: Modern Treasury isn’t proposing to become a conventional lending bank or create its own stablecoin. The application is centered specifically on custody and money movement.
A USD 600 Billion Payments Platform Moves Toward Custody
The scale of Modern Treasury’s existing business gives the application context. The company describes itself as providing infrastructure for global money movement and says it has powered over USD 600 billion in payments for hundreds of organizations, with backing from investors including Benchmark, Altimeter, and Salesforce Ventures, a scope comparable to the reserve and custody mechanics explored in USDC’s no-hype breakdown.
The proposed bank would build on that existing infrastructure rather than represent a first entry into payments.
The Existing Payments Business Continues Separately
Modern Treasury said it will continue to provide payment infrastructure through its software and payment service provider. The proposed bank would operate as a separate, limited-purpose banking entity, providing only the services authorized by the OCC.
The company said nothing changes for its existing customers, bank partners, or stablecoin partners while the application is under review, and its existing software and payment services will continue operating independently of the proposed bank.
That separation is a structural choice stated directly in the announcement: the bank, if approved, would sit alongside Modern Treasury’s current business rather than replace or absorb it.
The Application Is Not Yet an Approval
Modern Treasury’s announcement represents an application, not the launch of a national bank. The company said the application is subject to review and approval by the OCC, and Modern Treasury National Trust Bank will not commence operations unless and until it receives the required regulatory approvals and final authorization.
This distinction is central to how the announcement should be read. Modern Treasury has applied to establish a national trust bank. It has not announced that the bank has already received a charter, and the timeline for a decision was not disclosed.
Why the Custody-and-Fiat Framing Matters
Modern Treasury’s own description of the proposed bank emphasizes a “unified custody solution” and an “integrated way to custody and move stablecoins and fiat.” Positioning custody and fiat services together, rather than lending or token issuance, reflects a structure built around what the company already does: moving money for other businesses.
Digital-asset custody extends that same function to stablecoins held by Modern Treasury’s customers, a connection also relevant to the broader custody approaches covered in 9 best crypto lending platforms in 2026, even though Modern Treasury’s proposed bank would not itself engage in lending.
What Comes Next
The immediate next step is OCC review. If approved, Modern Treasury National Trust Bank would provide digital-asset custody and related fiat services as a separate, limited-purpose entity, while Modern Treasury’s existing payments business continues through its software and payment service provider. The company has not disclosed an expected timeline for the OCC’s decision.
What this means for you: Modern Treasury has applied to the OCC to establish a national trust bank focused on digital-asset custody and related fiat services. The company says its platform has already powered more than USD 600 billion in payments for hundreds of organizations, backed by investors including Benchmark, Altimeter, and Salesforce Ventures.
The proposed bank would not issue stablecoins or make loans, and nothing changes for existing customers, bank partners, or stablecoin partners while the application remains under OCC review.
This article is for informational purposes only and does not constitute legal, financial, investment or banking advice. Modern Treasury’s proposed national trust bank remains subject to the applicable regulatory approval process.
