Modern Treasury Seeks U.S. Trust Bank Charter

Cointelegraph.com reports that Modern Treasury is seeking a U.S. trust bank charter to expand its digital asset custody business. The payments infrastructure company is pursuing federal approval for a limited-purpose national trust bank.

According to cointelegraph.com, the proposed structure would allow Modern Treasury to offer stablecoin custody and related fiat services.

✦Key Takeaways

• ✓Modern Treasury is seeking a U.S. trust bank charter.
• ✓The company is pursuing federal approval for a limited-purpose national trust bank.
• ✓The planned services include stablecoin custody and related fiat services.

✦Context

Trust bank charters can allow firms to provide specific financial services under federal oversight. In digital assets, custody arrangements are often central to how companies hold and manage client assets and related payment services.