获批后，Agora 更接近成为美国国家信托银行

Agora获美国货币监理署初步批准，拟设立联邦监管稳定币信托银行

Agora已获得美国货币监理署（OCC）的初步有条件批准，得以建立Agora国家信托银行。此举使这家稳定币发行公司更接近在联邦监管下运营其发行、托管及交易基础设施。

核心要点摘要

• Agora已收到OCC的初步有条件批准，将建立一家负责稳定币发行、托管及数字资产交易服务的国家级信托银行。
• 最终授权仍取决于满足开业前的各项要求，包括至少1000万美元的一级资本，并在开始运营前通过OCC的检查。
• Agora计划将其稳定币、钱包、银行服务及软件工作流整合至单一受监管实体中，以此构建其金融基础设施业务。
• 根据规定，该拟议银行必须在获得初步批准后12个月内筹集所需资本，并在18个月内开业，否则需向OCC申请延期。

监管框架与运营模式

根据OCC于9月18日发布的决定，这家总部位于纽约的拟议银行将成为Agora Atlas Corp.的全资子公司。在完成监管机构规定的开业前要求后，该行将开展有限目的的信托业务。目前，该机构尚未获得正式运营许可。

Agora表示，这家拟议的信托银行将使公司的稳定币、托管和交易基础设施直接置于联邦监管之下。公司计划将稳定币、银行服务、钱包和软件工作流整合到一个单一的受监管实体中。“企业不应被迫组装一堆互不兼容的供应商，”Agora在描述其拟建的特许模式时如是说。

最终授权仍以公司在开业前满足OCC的条件为前提。监管机构保留在银行开始运营之前修改、暂停或撤销初步批准的权利。

业务范围：稳定币发行与托管

Agora国家信托银行计划发行并赎回美元支持的稳定币，同时为机构客户提供数字资产托管和交易服务。该行还将向持有数字资产的选定客户提供受托投资咨询服务，包括分析客户资产状况，并提供涉及数字资产市场中投资机会和收益生成机会的建议。

Agora Atlas于2023年10月在特拉华州注册成立，位于Agora集团旗下多个实体之上，包括Agora Bermuda Limited、Agora Blue Ltd.以及Agora储备基金。

Under this architecture, Agora aims to incorporate more of the infrastructure that supports its stablecoin operations within the group, rather than relying on independent providers to provide individual services. The company currently operates its dollar-backed stablecoin AUSD. Agora has previously described its business as covering the issuance of fiat currencies and the ledger infrastructure, and the proposed federal charter would add a regulated U.S. banking entity to the structure.

Since its launch, AUSD has expanded across multiple blockchain networks. Previously, AUSD was extended to the Impressive network, allowing it to be used on the network for on-chain liquidity and decentralized financial applications. Agora said at the time that AUSD was fully backed by collateral and was minted on a dollar basis.

Based on previous company disclosures, Agora has worked with well-known financial institutions to build its reserve structure. VanEck manages the reserve assets of AUSD, while State Street serves as custodian.

This stablecoin has also been used for institutional transactions. Agora and Galaxy Digital completed their first over-the-counter (OTC) transaction of AUSD. Nick van Eck, co-founder and CEO of Agora, said at the time that the company intends to position AUSD as a stablecoin product for institutional markets.

Final approval comes with capital and operating conditions

Preliminary approval does not allow Agora National Trust Bank to start banking operations. The OCC requires the proposed bank to meet its pre-opening conditions before granting final authorization. Agora must maintain at least $10 million in Tier 1 capital and meet requirements regarding management, directors, audit arrangements and operational readiness.

Agora在向监管机构通知重大偏离申请过程中审查的商业计划之前，必须提前告知。其运营必须限于经批准计划中描述的信托公司业务及相关服务。

稳定币的发行和赎回必须符合《GENIUS法案》及其实施条例。如果需要遵守联邦稳定币框架或其他适用法律，OCC可以要求Agora改变、停止或剥离某些活动。

公司面临完成流程的截止日期。资本必须在获得初步有条件批准后的12个月内筹集完毕，而Agora国家信托银行必须在18个月内开业，否则批准将失效。OCC表示，除非存在申请人无法控制的特殊情况，否则一般反对延期。

根据OCC的数字资产许可记录，Agora于4月20日提交了国家信托银行申请。9月18日的决定伴随着另外两家数字资产企业的批准。同日，OCC授予Catena Trust Bank初步有条件批准，并批准Bastion Platforms Trust Company转为国家信托银行。

加密行业持续推进OCC特许牌照进程

随着稳定币和加密货币公司将部分业务置于OCC监管之下，Agora加入了越来越多寻求联邦银行结构的数字资产公司行列。此前报道显示，OCC在8月列出了13项数字资产申请，其中包括Agora、Payward国家信托公司、Dakota国家信托银行和zerohash的申请。监管机构的记录显示，Agora的申请自4月起一直处于待定状态，直至9月18日的决定。

多家加密货币公司已达到有条件批准阶段。Circle、Ripple、BitGo、Fidelity Digital Assets和Paxos于2025年12月获得决定，随后其他申请人在2026年陆续获批。Circle于7月超越了有条件阶段，在其完成开业前要求后，OCC给予了First National Digital Currency Bank的最终信托银行批准。Circle最初于2025年6月提出申请，并于同年12月获得有条件批准。

有条件特许牌照并未局限于稳定币发行人。Stripe旗下的Bridge于2月获得批准，建立以稳定币基础设施为核心的国家信托银行；Crypto.com也在同月获得了Foris DAX国家信托银行的有条件决定。

最近，World Liberty Financial于8月获得初步批准，计划建立一家国家信托银行，负责发行USD1、管理储备并提供机构托管服务。其拟议机构在开业前必须保持至少2000万美元的合格资本。

National Trust Bank is different from traditional commercial banks. Many digital asset companies pursue structures that focus on custody, trusteeship, clearing and related activities, and typically do not provide traditional demand deposits or loans.

Agora plans to use its proposed bank to integrate services currently scattered across multiple stablecoin infrastructures. The company said its intended model would combine digital dollars, wallets, banking tools and operating software through one system.

Before opening, Agora National Trust Bank must notify the OCC that all pre-opening conditions have been met, prove that the institution is operational ready, and request a pre-opening inspection. Final authorization to formally start business will depend on the regulatory agency completing the process.