SAN FRANCISCO — October 5, 2026
Executive Summary
Modern Treasury has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish Modern Treasury National Trust Bank, a proposed limited-purpose national trust bank. If approved and authorized to open, the bank would add federally supervised digital asset custody and related fiat services to Modern Treasury’s payments platform, including integrated capabilities for customers to custody and move stablecoins and fiat.
Announcement Overview
Modern Treasury stated that the proposed bank would operate separately from its existing software and payment services and would be subject to OCC supervision and authorization. If approved, Modern Treasury National Trust Bank would provide a unified custody solution connecting the company’s payments and settlement capabilities with digital asset and custody services. The proposed entity would be authorized to provide only services approved by the OCC and would not make loans or issue stablecoins. Modern Treasury’s existing payment infrastructure, customers, bank partners and stablecoin partners would continue separately while the application undergoes regulatory review.
Key Announcement Details
- Announcement Type: Regulatory Application
- Announcing Entity: Modern Treasury
- Announcement Date: October 5, 2026
- Dateline: SAN FRANCISCO
- Announcement: Applies to establish Modern Treasury National Trust Bank
- Regulator: Office of the Comptroller of the Currency (OCC)
- Proposed Bank: Limited-purpose national trust bank
- Primary Focus: Digital asset custody and fiat services
- Key Asset: Stablecoins
- Banking Scope: No lending or stablecoin issuance
- Platform Integration: Payments, settlement and digital asset custody
- CEO: Matt Marcus, Co-Founder and CEO
- Status: Subject to OCC review and approval
- Existing Services: Continue separately
- Payments Volume: Over $600 billion
- Customer Base: Hundreds of organizations
- Backers: Benchmark, Altimeter and Salesforce Ventures
Application to Establish Modern Treasury National Trust Bank
Modern Treasury stated that it has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish Modern Treasury National Trust Bank.
If the application receives the required approvals and the proposed bank is authorized to open, it would operate as a federally regulated, limited-purpose national trust bank under OCC supervision.
The proposed bank would add:
- Digital asset custody
- Related fiat services
- Federally supervised custody capabilities
- Integration with Modern Treasury’s existing payments and settlement infrastructure
The proposed structure is intended to connect these services with the payment infrastructure already provided by Modern Treasury.
Proposed Custody and Financial Services
Modern Treasury stated that the proposed bank would provide customers with a unified custody solution integrating its payments and settlement capabilities with digital asset and custody services.
Together, Modern Treasury and the proposed bank would give customers an integrated way to:
- Custody stablecoins
- Move stablecoins
- Custody fiat
- Move fiat
- Connect custody capabilities with payments and settlement infrastructure
The proposed bank would not make loans or issue stablecoins.
Modern Treasury’s Stablecoin Infrastructure
Matt Marcus, Co-Founder and CEO of Modern Treasury, described stablecoins as an important part of the company’s payments infrastructure strategy.
“We believe stablecoins are foundational economic infrastructure for the future,”
Marcus continued:
“We have now fully integrated stablecoins to our payments platform. Pursuing this charter will add direct federally supervised digital asset custody and related services to the infrastructure our customers already use.”
Modern Treasury stated that the proposed national trust bank would therefore complement the company’s existing payments infrastructure by adding the proposed custody and related fiat capabilities.
Existing Modern Treasury Payment Infrastructure Will Continue Separately
Modern Treasury stated that it will continue providing payment infrastructure through its software and payment service provider (PSP).
The proposed bank would operate as a separate, limited-purpose banking entity and would provide only those services authorized by the OCC.
The company stated that:
- Existing software services will continue separately.
- Existing payment services will continue separately.
- Customers will continue using Modern Treasury’s existing infrastructure.
- Bank partners will continue separately.
- Stablecoin partners will continue separately.
Modern Treasury stated that nothing changes for its customers, bank partners or stablecoin partners as a result of the application while the proposed bank remains subject to the regulatory process.
OCC Review and Required Authorization
The application remains subject to review and approval by the OCC.
Modern Treasury stated that Modern Treasury National Trust Bank will not commence operations unless and until it receives the required regulatory approvals and final authorization from the OCC.
Accordingly, the proposed bank has not been described as an operating banking entity at this stage. Its proposed activities remain subject to the regulatory authorization process and the scope of services ultimately authorized by the OCC.
Existing Payments Infrastructure
Modern Treasury stated that customers can learn more about its existing payments infrastructure through the company’s website.
The company provides infrastructure for global money movement, including payment and settlement capabilities supporting both fiat and stablecoin transactions.
About Modern Treasury
Modern Treasury provides infrastructure for global money movement, serving enterprises and financial institutions with payment capabilities and developer tools.
- Platform: Payment infrastructure with a single API for fiat and stablecoin transactions
- Capabilities: Compliance, ledgering and reporting
- Scale: More than $600 billion in payments powered for hundreds of organizations
- Investors: Benchmark, Altimeter and Salesforce Ventures
- Customer focus: Helping companies launch and scale payment experiences
Modern Treasury stated that its platform is designed to provide instant, reliable and scalable money movement for companies of all sizes, with its existing infrastructure supporting global payment experiences.
Media Contact
For additional information, visit moderntreasury.com.
Source Attribution
Source: Company announcement
