Regulatory Alerts2026-02-20 | Corporate Decision 1367Added
Corporate Decision 1367 — Application to charter Foris DAX National Trust Bank, Chicago, IL
The Office of the Comptroller of the Currency grants preliminary conditional approval to charter Foris DAX National Trust Bank, a wholly owned subsidiary of Foris Holdings US, Inc., to operate as a national trust bank in Chicago, Illinois. The bank is authorized to engage in fiduciary activities, including digital asset and U.S. dollar custody, trade settlement, staking, and riskless principal trading, subject to a requirement to apply for stock in a Federal Reserve Bank. Final approval is contingent upon meeting preopening requirements, including maintaining $15 million in tier 1 capital with specific liquidity ratios and completing an independent audit. The approval imposes conditions for the first three years of operation, requiring 60 days' notice for significant business plan deviations and prior OCC no-objection letters for the appointment of senior executive officers and board members.