Modern Treasury Files National Trust Bank Charter Application with OCC

Modern Treasury filed an application with the Office of the Comptroller of the Currency to establish a national trust bank. The payment operations infrastructure company joins a broader wave of fintech firms pursuing limited-purpose bank charters from the OCC. A national trust-bank charter would allow Modern Treasury to provide fiduciary and custody services under federal supervision without accepting deposits or making loans.

The company currently operates a platform that helps businesses automate and manage money movement across banking partners. Obtaining its own charter could reduce reliance on partner banks for certain services. The application reflects a growing pattern of fintech infrastructure providers seeking direct regulatory authorizations from the OCC.