Modern Treasury submitted a de novo application to the Office of the Comptroller of the Currency on October 5, 2026, seeking to establish Modern Treasury National Trust Bank. The proposed limited-purpose institution would provide federally regulated custody and settlement services that connect stablecoin and fiat transactions with the company’s existing payment rails. It would not make commercial loans, accept retail demand deposits or issue a stablecoin. Modern Treasury plans to keep the trust bank legally and operationally separate from its software and payment service provider businesses. The application remains subject to the OCC’s initial review, public comment, potential preliminary conditional approval and final authorization after all pre-opening requirements are met. The filing follows Modern Treasury’s October 2025 acquisition of Beam and comes amid broader debate over national trust charters, which provide a federal framework but have drawn opposition from traditional and community banking organizations.