Modern Treasury Applies to Establish National Trust Bank

If approved and authorized to open, the proposed bank would add federally supervised digital asset custody and related fiat services to Modern Treasury’s payments platform

SAN FRANCISCO--(BUSINESS WIRE)--Modern Treasury, which provides infrastructure for global money movement, today announced that it has submitted an application to the Office of the Comptroller of the Currency (“OCC”) to establish Modern Treasury National Trust Bank.

If approved, Modern Treasury National Trust Bank would operate as a federally regulated, limited-purpose national trust bank under OCC supervision. The proposed bank would provide Modern Treasury customers with a unified custody solution that seamlessly integrates the company’s payments and settlement capabilities with digital asset and custody services. Together, Modern Treasury and the bank would give customers an integrated way to custody and move stablecoins and fiat. The proposed bank would not make loans or issue stablecoins.

“We believe stablecoins are foundational economic infrastructure for the future,” said Matt Marcus, Co-Founder and CEO of Modern Treasury. “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 will continue to provide payment infrastructure through its software and payment service provider (PSP). The proposed bank would operate as a separate, limited-purpose banking entity and provide only the services authorized by the OCC.

The application is subject to review and approval by the OCC. Modern Treasury National Trust Bank will not commence operations unless and until it receives the required regulatory approvals and final authorization from the OCC. Modern Treasury’s existing software and payment services will continue separately, and nothing changes for its customers, bank partners, or stablecoin partners.

To learn more about Modern Treasury's existing payments infrastructure, visit www.moderntreasury.com.

About Modern Treasury

Modern Treasury provides the most trusted infrastructure for global money movement. Trusted by leading enterprises and financial institutions, the platform helps businesses launch and scale payment experiences in days, with best-in-class developer tools and a single API for both fiat and stablecoin transactions. With built-in compliance, ledgering, and reporting, Modern Treasury enables instant, reliable, and scalable money movement for companies of all sizes.

Backed by leading investors including Benchmark, Altimeter, and Salesforce Ventures, Modern Treasury has powered over $600 billion in payments for hundreds of organizations.