Modern Treasury seeks US trust bank charter for digital asset custody

Key Summary

Modern Treasury has filed an application with the Office of the Comptroller of the Currency (OCC) for a limited-purpose national trust bank charter. The proposed entity, Modern Treasury National Trust Bank, aims to provide digital asset custody services, including stablecoins, and related fiat services. The trust bank would not engage in lending or issue stablecoins. The company's CEO, Matt Marcus, sees the charter as a natural extension of the stablecoin integration added through its acquisition of Beam in October 2025. The filing marks a growing trend in digital assets and fintech, with other firms such as Circle, Paxos, and Ripple also pursuing national trust charters.