Search Results for "Protego Trust Company"
2 results for "Protego Trust Company"
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OCC Confirms Protego Trust's Conditional National Trust Bank Charter Has Expired
The OCC confirmed that Protego Trust Company's conditional approval for a national trust bank charter expired after the crypto firm failed to meet pre-conversion requirements. Protego had originally received conditional approval in February 2021, which was extended to February 2023. The firm could not secure $54 million in tier 1 capital and liquidity or finalize necessary policies and systems. Anchorage Digital remains the only crypto firm holding an active OCC national banking charter.
OCC Conditionally Approves Protego Trust Company for Federal Trust Bank Charter
The OCC granted conditional approval to Protego Trust Company to convert to a federally-chartered trust bank. Protego, a Seattle-based crypto custody and trading provider, became the second crypto firm to receive a federal bank charter after Anchorage Digital Bank. The approval requires Protego to meet operational, capital, and compliance conditions within 18 months.