The Federal Deposit Insurance Corporation approved the federal deposit insurance application of Augustus National Bank, a proposed national bank headquartered in Dallas. The bank will serve digital asset and technology companies, high-net-worth individuals and international financial institutions through deposit, lending, virtual currency, payment and treasury services. It also plans to offer stablecoin services through a subsidiary, including issuing its own stablecoin if separately approved under the GENIUS Act. Approval requires at least USD 73.66 million in initial paid-in capital and a leverage ratio of at least 10% during the first three years of operation. Other conditions include obtaining all final regulatory approvals, securing FDIC consent for specified management or ownership changes before insurance takes effect, and implementing systems capable of stopping transactions at the FDIC cutoff point. The approval will expire after 12 months if federal deposit insurance has not become effective, unless the FDIC grants an extension. The FDIC may alter, suspend or withdraw its commitment before effectiveness if interim developments warrant.
Federal Deposit Insurance Corporation2026-08-04
Federal Deposit Insurance Corporation approves Augustus National Bank deposit insurance application subject to USD 73.66 million capital floor
The Federal Deposit Insurance Corporation approved Augustus National Bank’s deposit insurance application, subject to at least USD 73.66 million in initial capital and other regulatory and operational conditions. The proposed Dallas bank will focus on digital asset and technology clients and plans to provide stablecoin services through a subsidiary. Approval expires after 12 months unless insurance becomes effective or the FDIC grants an extension.