# Rain Applies to Establish a New York National Trust Bank

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/26899
Published: 2026-10-05T23:14:02.000Z
Updated: 2026-10-05T23:14:02.000Z
Section: Regulation

> The proposed bank would serve institutional clients with custody and stablecoin services while operating as a separately capitalized subsidiary under OCC supervision.

Rain, a stablecoin payments platform, has applied to establish a national trust bank for institutional custody and stablecoin services, adding to crypto firms’ efforts to secure a U.S. banking structure.

The proposed Rain National Trust Bank (RNTB) would be headquartered in New York and operate as a separately capitalized subsidiary under the supervision of the Office of the Comptroller of the Currency (OCC). Its planned services include custody of digital assets and U.S. dollars, stablecoin reserve management that meets GENIUS Act requirements, and issuance and redemption of dollar stablecoins.

RNTB would not accept deposits, provide consumer accounts or make commercial loans. Assets held for clients would be kept separate from the bank’s own assets, while Rain would continue to operate its stablecoin payments platform separately.

The application comes as the OCC’s authority to grant national trust bank charters to crypto firms faces a legal challenge. The Independent Community Bankers of America (ICBA) sued the OCC, alleging that the agency exceeded its authority. The lawsuit also alleges the charter framework lacks requirements applied to insured banks, including capital and liquidity standards, consolidated supervision and Federal Deposit Insurance Corporation coverage.