Augustus gets conditional OCC approval for AI and stablecoin bank

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Augustus secures OCC conditional approval. Source: PR Newswire Related: Stablecoin issuer Circle faces lawsuit over $280M Drift Protocol hack While companies such as Ripple and Circle have pursued national trust bank charters under the OCC framework, only a limited number of digital asset firms have reached comparable advanced stages in the federal chartering process. The OCC approval places Augustus among a small group of companies that have progressed toward a national bank charter in recent years, according to the release. The move comes as competition intensifies to modernize cross-border payments and stablecoin settlement infrastructure in the US. Under the Guiding and Establishing Innovation for US Stablecoins (GENIUS) Act regime for payment stablecoins, banks and trust companies can issue fully reserved dollar tokens, and a growing group of issuers and payments companies are testing ways to integrate tokenized dollar flows into regulated banking rails. Circle’s collaboration with core banking provider Finastra in August 2025, for example, lets banks settle cross-border payments in USDC via Finastra’s Global PAYplus hub, and Citi and HSBC introduced live tokenized deposit services for 24/7 cross-border and interbank payments in November 2025. Augustus, backed by Peter Thiel’s Valar Ventures, Creandum, and the founders of companies including Ramp and Deel, has raised about $40 million, according to the company. At 25, Dabitz would be the youngest chief executive of a federally chartered bank in over 100 years. Cointelegraph reached out to Augustus for comment, but had not received a response by publication. Asia Express: North Korea denies crypto hacks, Upbit’s bank tests Ripple More on the subject

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