OCC grants conditional approval to Protego for digital assets

The Office of the Comptroller of the Currency has granted conditional approval of the conversion of Protego Trust Company, a Washington state-chartered trust company, to become Protego Trust Bank, National Association. Protego is the second crypto-native firm to get national licensing from the OCC, following Anchorage’s approval last month. Protego is a bank designed and built specifically for institutional clients seeking opportunities within the digital assets space. The new federal charter will enable Protego clients nationwide to hold, trade, lend and issue digital assets.