bastion

Let’s address the key point first: it’s not just another “it applied”—OCC truly approved it: conditional approval.
Stablecoin infrastructure Bastion (Bastion Platforms) received the U.S. Office of the Comptroller of the Currency (OCC) preliminary conditional approval to convert a New York state trust company into a nationwide trust bank: Bastion Platforms National Trust Company, charter number 27198. The official document is Corporate Decision #1391, dated 2026-09-18; the company GlobeNewswire released it on the same day.
What can it do and what can it not do—more important than slogans:
1️⃣ Business scope within trust companies and related activities: white-label stablecoin issuance, custody wallets (trust responsibilities), custody customers’ redemptions, and providing minting/redemption/reserve and compliant infrastructure to other compliant issuers