Modern Treasury seeks US trust bank charter for digital asset custody

The significance lies less in custody itself than in the regulatory route: a limited-purpose trust charter lets a payments firm hold stablecoin reserves under federal supervision without becoming a full bank, narrowing the gap between crypto-native custodians and chartered institutions. It matters for stablecoin issuers choosing where reserves sit, and for rivals weighing the same federal path. Whether that charter route becomes the default for payments firms with digital-asset ambitions is the open question.