AI fintech Augustus secures U.S. federal banking charter

Augustus, an AI- and stablecoin-based fintech firm, has secured a federal banking charter from the U.S. Office of the Comptroller of the Currency (OCC), Fortune Crypto reported. The company, which aims to improve cross-border payment efficiency by replacing traditional intermediary banking systems with code, has previously attracted significant investment from prominent backers, including Peter Thiel. Augustus plans to target the U.S. market by hiring a number of influential figures from the traditional finance industry to its executive team.