Augustus

Augustus, a financial technology company, received conditional approval from the OCC to establish a full-service U.S. national bank. The company describes the bank as "the world's first clearing bank for the AI era, built on a stablecoin and AI-native core." Augustus says the bank will be "always open, made for machines, at the speed of compute." The company framed the charter as an answer to what it calls shortcomings in the existing clearing model, which it says "runs on legacy correspondents that are closed 115 days a year, built for humans, and take two days to settle." Conditional approval means Augustus must still satisfy remaining OCC requirements before opening for business.