三家加密货币公司获得联邦信托银行有条件批准

Three crypto companies have received conditional approval from the U.S. Office of the Comptroller of the Currency to establish a National Trust Bank.

Three crypto companies have recently obtained conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) and are allowed to operate as National Trust Bank. The approval marks an important step towards a regulated federal oversight system for companies working in stablecoins and digital asset custody. However, as of now, these three companies are not yet in a position to start full business immediately.

The OCC has issued conditional approvals for national trust licenses to Agora National Trust Bank and Catena Trust Bank, and has also approved the conversion of Bastion Platforms Trust Company from a state-level license to a national-level license. According to the OCC definition, these three companies are still in the "trust banks in formation" stage and must meet certain conditions before they can officially open.

What is a "conditional" trust bank approval?

National Trust Bank is an institution that holds a federal charter, is able to manage assets, and serves as a fiduciary. In legal terms, a trustee is an entity that holds or manages funds on behalf of others, similar to a custodian or manager of assets. However, trust banks are different from traditional commercial banks: they do not accept daily checks or savings deposits, and they cannot issue loans.

The key lies in the expression "conditional". Although each company has received a green light in principle, it still needs to meet a list of requirements set by the OCC before it can start operating under a federal charter. Approval does not give them the authority to conduct business until these conditions are met.

各企业必须满足的资本要求

每家企业都面临不同的最低资本门槛：

• Bastion：必须保持至少600万美元的1级资本。1级资本是监管机构要求银行持有的核心财务缓冲，本质上是银行最高质量、最稳定的资金，用于吸收损失。
• Agora和Catena：作为新成立的机构（de novo institutions），这两家面临的门槛更高。它们各自必须保持至少1000万美元的1级资本。

此外，所有三家公司在其运营的頭三年还需满足合格流动资产要求，即必须将部分持仓保留在易于变现的资产中。

各家公司的业务规划

这三家公司服务于加密货币市场的不同细分领域：

• Bastion：提供白标稳定币及储备金和客户钱包的托管服务，实质上是为其他公司提供可品牌化的幕后银行基础设施。
• Agora：发行AUSD稳定币，这是一种与美元挂钩的数字美元。
• Catena：专注于为AI智能体（即能够自主交易的自动化软件程序）构建金融基础设施。

此举对加密货币行业的意义

Obtaining a Federal Trust Bank license is a path that more crypto companies are exploring, aiming to seek legitimacy in the traditional financial system. The OCC granted three approvals in a single announcement, indicating that it is open to processing such applications, although each approval comes with conditions.

The importance of such a federal charter is that it would place these companies directly under the supervision of the OCC, which also oversees national banks such as JPMorgan Chase. In addition, having a national charter eliminates differences in state regulations that these companies would otherwise have to deal with, which is closely related to calls by cryptocurrency groups to promote clearer federal rules through measures such as the CLARITY Act.

For ordinary crypto holders, the current actual impact is indirect and limited. If these companies complete conditions and start operations, it could mean more regulated options for stablecoin issuance and digital asset custody. Agora's AUSD stablecoin and Bastion's custody infrastructure may eventually be brought under the same federal supervisory framework that regulates traditional bank trust services. This conforms to broader legislative trends, including the House's efforts to advance a crypto tax framework that covers stablecoins, and suggests that regulators and lawmakers are moving in the same direction.

OCC's original conditional approval of Bastion was recorded in Company Decision No. 1391. The next milestone worth noting is that each company officially meets OCC's pre-opening conditions, after which they will receive final authorization to begin operating under their respective national charters.

As of press time, the trading price of Bitcoin was US$86,659, up about 1.2% in 24 hours; the Cryptographic Fear and Greed Index was 71, indicating that market sentiment was in a state of "greedy".