# Augustus already holds payments licenses in Europe, which permit it to clear cross-border euro transactions.

*web3 · news · 2026-05-11 · Fortune*

## Key points

- Augustus has received only the eighth national bank charter from the OCC since 2010.
- Augustus's OCC charter differs from trust charters as it avoids restrictions like deposit bans.
- Augustus's clearing system is based on code interacting with AI, not legacy correspondent banking.
- Augustus targets modernizing global transactions by integrating stablecoins and AI into its clearing process.
- Augustus is backed by $40 million from Valar Ventures, Creandum, and major fintech founders.

**Companies:** Augustus, Kraken
**Countries:** United States, European Union

[Read the full story on Fortune](https://fortune.com/2026/05/11/augustus-stablecoins-occ-charter/)

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