Digital Asset Firms Gain Path to Federal Trust Charters
Custody and stablecoin operators must still win final OCC authorization and meet capital and liquidity conditions before opening.
Updated on Nov. 6, 2026 in Financial Services
The Office of the Comptroller of the Currency granted preliminary conditional approval on September 18 to proposed national trust banks from Agora and Catena. Neither bank can open until it receives final OCC authorization and meets the conditions attached to its preliminary approval, which matters for digital-asset custody and stablecoin firms seeking federal charters.
Why it matters
Federal trust charters let digital-asset firms offer custody, fiduciary, and transaction services under federal supervision rather than a patchwork of state licenses. The approvals show the OCC extending that path to new applicants, following the charters already held by Anchorage Digital Bank and BitGo Bank & Trust.
The OCC set a minimum of $10 million in Tier 1 capital for each proposed bank, and each must hold liquid assets sufficient to cover 180 days of operating expenses during its first three years. The extraction does not report how many applications the OCC has reviewed or how these thresholds compare with prior trust-charter requirements.
The players
Office of the Comptroller of the Currency (OCC)
The federal bank regulator that charters and supervises national banks, including national trust banks that conduct fiduciary business.
Agora
A proposed national trust bank applicant planning institutional digital asset custody, stablecoin issuance, and fiduciary investment advice.
Catena
A proposed national trust bank applicant planning custody, trust services, and clearing and execution of fiat, securities, and digital asset transactions.
Anchorage Digital Bank
A crypto-focused institution that has operated under a national trust bank charter since 2021 and issues payment stablecoins.
BitGo Bank & Trust
A digital asset custodian whose conversion to a national trust bank took effect December 12, 2025.
The details
Agora's proposed bank would offer institutional digital asset custody, stablecoin issuance, reserve maintenance, transaction services, and fiduciary investment advice. Catena's proposed bank would offer custody and trust services, investment management in a fiduciary capacity, and clearing and execution of transactions involving fiat currency, securities, and digital assets. National trust banks may conduct fiduciary business and related nonfiduciary work, including custody.
Timeline
September 18: OCC grants preliminary conditional approval to Agora and Catena.
December 12, 2025: BitGo Bank & Trust's conversion to a national trust bank takes effect.
2021: Anchorage Digital Bank begins operating under its national trust charter.
Market Landscape
The approvals extend a federal charter path that Anchorage Digital Bank has used since 2021 and that BitGo Bank & Trust joined with its conversion effective December 12, 2025. Digital-asset firms are now seeking the same federal status to offer custody and fiduciary services under a single national supervisor.
Operators in digital-asset custody and stablecoin issuance should track whether federal trust charters become a practical route to fiduciary and custody licensing. Firms weighing a charter should consult qualified counsel on the capital and liquidity requirements before committing resources.
The takeaway
The approvals signal that the OCC is willing to grant national trust charters to digital-asset custody and stablecoin applicants under capital and liquidity conditions. Operators should check the $10 million Tier 1 minimum and 180-day liquidity requirement against their own balance sheets with a qualified accountant.
What happens next
Final OCC authorization decisions for Agora and Catena are pending; no specific date was given in the extraction.
Further reading
For background on how federal bank charters shape the sector, see Financial Services coverage across the United States.
Source note: This article includes information reported by TokenPost.
