Modern Treasury, a payments company, has applied to set up a national trust bank in the US to manage digital-asset custody and related dollar services.
The company submitted its application to the Office of the Comptroller of the Currency (OCC) for what would be called Modern Treasury National Trust Bank. If approved, this would be a federally regulated, limited-purpose trust bank.
Customers could store and transfer both stablecoins and traditional dollars using one service. The bank would not issue stablecoins or offer loans.
Matt Marcus, co-founder and CEO of Modern Treasury, said the company expects stablecoins to play a key role in the financial system in the future.
1/6 We submitted our application to the OCC to establish Modern Treasury National Trust Bank. If approved and authorized to open, the bank would add federally supervised digital asset custody and related fiat services to @ModernTreasury. https://t.co/Oekym1dVOV
— Matt Marcus (@mattgmarcus) October 5, 2026
The company has already included stablecoins in its payments platform. Its current payments business has processed over $600 billion for hundreds of organizations.
The new bank would run as a separate entity.
Modern Treasury said customers could use the new bank to store and transfer both stablecoins and regular money in one place. However, the bank would have clear limits. It would not issue stablecoins or make loans.
This application comes at a time when more crypto and payments companies are interested in getting national trust bank charters.
Several companies have already moved in this direction. Bastion and Ripple have received conditional approvals, while Circle and BitGo have received final approvals. Other companies, such as Kraken’s parent Payward, Zerohash, and Block, have also applied.
The reason for this interest is straightforward. A national trust bank gives companies a federal regulatory framework for some financial services without making them traditional deposit-taking banks.
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