Modern Treasury Seeks OCC Approval for National Trust Bank

Modern Treasury, a company that builds infrastructure for global money movement, has applied to the Office of the Comptroller of the Currency to form a national trust bank. The proposed entity would be called Modern Treasury National Trust Bank, according to its announcement. The application marks a formal step toward obtaining federal banking oversight.

The OCC is the federal regulator that grants national trust bank charters. Such charters allow institutions to provide fiduciary and trust services under a uniform national framework, rather than navigating a state-by-state patchwork. For a financial infrastructure firm, a trust bank charter could signal a deeper role in regulated money movement.

Modern Treasury has not disclosed a timeline for the review or details about the services the proposed bank would offer. The OCC will assess the application, and approval is not guaranteed. The announcement did not include financial terms or information about leadership for the proposed trust bank.

The move reflects a broader trend of fintech and payments companies seeking bank charters or trust powers as they expand beyond software alone. If approved, Modern Treasury National Trust Bank would operate within the federal banking system. The application remains pending, and further details may emerge as the regulatory process continues.