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Augustus already holds payments licenses in Europe, which permit it to clear cross-border euro transactions.
Augustus has received only the eighth national bank charter from the OCC since 2010.
KEY POINTS
- 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
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