Agora Secures Initial OCC Approval to Form U.S. National Trust Bank

Agora said it has received preliminary conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a U.S. national trust bank, a step that would place part of the stablecoin issuer's activities under federal oversight. Under the proposal, the new bank would support portions of Agora's stablecoin, custody, and transaction operations. It cannot begin business until the company satisfies OCC requirements, including standards for capital, liquidity, and governance. Agora currently issues its AUSD stablecoin through Agora Bermuda Limited under Bermuda's digital-asset framework. The token is backed by short-term U.S. Treasuries and other liquid assets. The proposed U.S. trust bank would also offer fiduciary investment advisory services for institutional clients. Agora indicated the U.S. entity would remain separate from its Bermuda issuer rather than replace it. The OCC's conditional approval comes as more crypto firms pursue national trust charters to bring certain lines of business under federal supervision. Block has also sought approval for Builders Bank & Trust, aimed at Bitcoin and stablecoin custody. The OCC has listed applications from Payward, Catena Trust Bank, and EDX Trust. Comptroller Jonathan Gould said the agency has received 40 charter applications since President Donald Trump took office, including 23 tied to digital assets. Agora still must meet the OCC's conditions before it can receive final authorization to open the bank. Disclaimer: This content is provided for informational and educational purposes only and does not constitute financial advice. Coin Edition is not responsible for any losses arising from the use of any products or services referenced. Readers should exercise caution before taking action related to the company.