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Oct 5, 2026

Rain seeks US trust bank charter amid OCC challenge

Stablecoin payments infrastructure provider Rain filed an application to establish a national trust bank headquartered in New York, joining a wave of crypto companies seeking bank charters as the OCC faces legal challenges over its crypto charter program.

Oct 5, 2026·2 sources

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Top claims

▪The OCC exceeds its legal authority by granting national trust bank charters for non-fiduciary activities
▪A national trust bank charter provides cryptocurrency companies with a recognized federal regulatory framework that helps navigate varying state regulations and offers institutional clients the comfort of federally supervised oversight
▪Brandon Soto, the proposed president and CEO of Rain National Trust Bank, previously served as the chief financial officer of Coastal Financial Corporation

Topics

Crypto bank charters Crypto regulation Payments Stablecoins

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