OCC Conditionally Approves Five National Trust Bank Charters
"New entrants into the federal banking sector are good for consumers, the banking industry and the economy"
Jonathan V. Gould, Comptroller of the Currency
"New entrants into the federal banking sector are good for consumers, the banking industry and the economy"
Jonathan V. Gould, Comptroller of the Currency
The OCC conditionally approved five national trust bank charter applications, including two de novo charters and three conversions from state trust companies.
All of the newly chartered trust entities' plan to provide trust custodial services with respect to digital assets.
The approvals include First National Digital Currency Bank and Ripple National Trust Bank as de novo institutions, and conversions for BitGo Bank & Trust, National Association, Fidelity Digital Assets, National Association, and Paxos Trust Company.
The OCC stated it will continue to provide a path for both traditional and innovative approaches to financial services.