Stablecoin infrastructure provider Bastion has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to convert its New York state trust charter into a national trust bank charter. The federal charter authorizes Bastion to offer stablecoin custody, wallets, payment infrastructure, and white-label issuance services, including minting, redemption, and fiat conversion, to large enterprises and financial institutions under federal supervision. The approved charter does not permit deposit-taking and is not covered by FDIC insurance. Bastion currently serves as a stablecoin partner for major enterprises, including Sony Bank, and is backed by investors such as Coinbase Ventures, Sony Innovation Fund, and Samsung Next.