Modern Treasury Applied for National Trust Bank Charter
The payments firm seeks a federal charter to provide digital asset custody services for its customers.
Updated on Oct. 5, 2026 in Banking
Live Poll
Should crypto firms have the same access to federal banking charters as traditional community banks?
Modern Treasury has applied to the Office of the Comptroller of the Currency to launch a national trust bank that would offer custody services for fiat and stablecoins. The proposed entity would operate as a federally regulated institution without issuing stablecoins or making loans.
Why it matters
If approved, the charter would allow the firm to offer direct federally supervised digital asset custody to its platform customers. This move marks a strategic shift to bring regulated oversight to its existing payments and settlement services.
The firm, which acquired Beam in 2025, is seeking one federal charter to provide specialized custody services. No specific dollar impact for households is available, as the application process for the trust bank is still in its initial stages.
The players
Modern Treasury
A financial technology company that provides payment and settlement software for businesses.
Office of the Comptroller of the Currency
A federal agency that charters, regulates, and supervises all national banks and federal savings associations.
Independent Community Bankers of America
A trade association representing community-based banks that monitors and lobbies on financial policy and digital asset regulation.
The details
Modern Treasury aims to integrate its payment platform with a trust structure that handles fiat and stablecoins under federal supervision. By bypassing the issuance of stablecoins or lending activities, the company intends to focus strictly on custody and settlement services. This application follows a previous acquisition of the company Beam, which helped expand the firm’s technical capabilities in the digital asset space.
Timeline
Modern Treasury acquired the company Beam in 2025.
The Independent Community Bankers of America filed a lawsuit against the OCC in September 2026.
Modern Treasury announced its bank charter application on October 5, 2026.
Money Landscape
The move reflects a broader trend of non-bank financial firms seeking federal oversight to legitimize digital asset services. It follows the Independent Community Bankers of America's legal challenge to the OCC over the scope of charters granted to digital asset companies.
This application does not immediately change individual consumer account terms or personal banking services. Readers who use payment platforms integrated with digital assets should monitor their account statements for future policy updates regarding custodial oversight.
The takeaway
While this application marks a milestone for business-to-business payment services, it does not currently affect personal deposit or credit products. Interested parties may monitor updates from the Office of the Comptroller of the Currency for news on the charter's status.
Further reading
Learn more about the current Banking landscape and how new digital charters impact consumer protections.
Live Poll
Should crypto firms have the same access to federal banking charters as traditional community banks?
