Modern Treasury seeks national trust bank charter

• Modern Treasury has applied to establish a national trust bank under federal supervision.
• The proposed bank would provide stablecoin and fiat custody alongside payment infrastructure.
• The bank would not make loans or issue stablecoins under the proposed structure.

Modern Treasury has applied to establish a national trust bank with the Office of the Comptroller of the Currency.

The proposed bank would provide custody for stablecoins and fiat currencies alongside existing payment services.

“We believe stablecoins are foundational economic infrastructure for the future,” Modern Treasury co-founder and CEO Matt Marcus said in a statement.

The bank would connect digital asset custody with Modern Treasury’s payment and settlement infrastructure.

Modern Treasury said the proposed bank would not make loans or issue stablecoins.

The planned structure would operate separately from Modern Treasury’s existing software and payment services.

Modern Treasury has processed more than $600 billion in payments for hundreds of organisations through its platform.

The application would place Modern Treasury’s stablecoin custody plans under federal banking supervision.