Modern Treasury Pursues US Trust Bank Charter for Digital Asset Custody

VERA Brief

AI-generated. Grounded in the article and its cited sources.

Payments infrastructure firm Modern Treasury is applying for a U.S. trust bank charter. This move aims to allow the company to offer custody services for stablecoins and related fiat currency transactions.

Key facts

• Modern Treasury is a payments infrastructure company.
• The company has applied for a limited-purpose national trust bank charter.
• The charter would enable Modern Treasury to offer custody services for stablecoins.
• Associated fiat currency transactions would also be supported.
• The application seeks approval to operate as a national trust bank.