Modern Treasury applies for U.S. federal trust bank charter

Payment infrastructure firm Modern Treasury has applied to the Office of the Comptroller of the Currency for a national trust bank charter to provide stablecoin custody services in the United States, Cointelegraph reported. If approved, Modern Treasury would be able to offer integrated stablecoin and fiat currency custody and transfer services. It would not provide stablecoin issuance or lending, and the bank would operate separately from the company’s existing payments business.