REGULATION · US
Rain, Modern Treasury file for OCC trust charters in fintech regulatory push
Fintech firms Rain and Modern Treasury filed applications for federally-chartered OCC trust charters, joining growing queue of digital-native financial firms seeking explicit regulatory infrastructure. Move follows ongoing litigation over OCC's trust charter standards.
WHY IT MATTERS
OCC trust charters grant payment and custody rights without bank merger; if approved, enables fintech firms to compete directly with incumbent custodians and payment processors—reshaping BFSI ecosystem structure.
Source: Banking Dive · 2026-10-06