OCC grants preliminary approval to two firms for national trust banks handling digital assets

The Office of the Comptroller of the Currency (OCC) has granted preliminary conditional approval to Agora and Catena to establish national trust banks handling digital assets. Agora plans to bring its stablecoin, custody, and transaction operations under federal supervision, while Catena will custody fiat, securities, and digital assets. Both firms must meet capital and liquidity requirements before launching, amid a surge in digital-asset bank charter applications.

National trust bank regulatory requirements

• ▪The Office of the Comptroller of the Currency's preliminary approval requires Agora National Trust Bank to meet conditions covering capital, liquidity, and governance before commencing operations.
• ▪The national trust bank proposed by Catena, which received preliminary conditional approval from the OCC, must meet capital, liquidity, and preopening requirements before it can begin operations

Stablecoin custody services

• ▪Agora currently issues the AUSD stablecoin through Agora Bermuda Limited, which is licensed by the Bermuda Monetary Authority
• ▪The proposed Agora National Trust Bank, announced by Agora on September 21, 2026, would oversee dollar-backed stablecoin issuance, digital-asset custody, and transaction services if it receives final approval

Digital asset custody services

• ▪The proposed Agora National Trust Bank, announced by Agora on September 21, 2026, would provide fiduciary investment advisory services for institutional customers
• ▪The national trust bank proposed by Catena, which received preliminary conditional approval from the OCC, would be authorized to custody and manage fiat, securities, and digital assets

Fintech crypto bank applications

• ▪In September 2026, Block applied to the OCC for Builders Bank & Trust, an uninsured national trust bank focused on Bitcoin and stablecoin custody.
• ▪On September 2, 2026, Revolut received preliminary conditional OCC approval for Revolut Bank US, N.A. to offer conventional financial products alongside cryptocurrency and stablecoin services.

Digital asset charter application surge

• ▪The OCC has previously granted preliminary conditional approvals to digital-asset firms including Ripple National Trust Bank, Paxos, Fidelity Digital Assets, and BitGo.
• ▪In August 2026, OCC Comptroller Jonathan Gould stated the agency had received 40 applications for new bank charters since President Donald Trump took office, including 23 involving digital-asset activity.