OCC grants national trust bank charter to South Dakota-based Anchorage

The Office of the Comptroller of the Currency conditionally approved the conversion of Anchorage Trust Co., a South Dakota chartered trust company, to become Anchorage Digital Bank NA.

The OCC said it granted a national trust bank charter to Anchorage after a review of the company and its current operations. As an enforceable condition of approval, the company entered into an operating agreement that sets forth, among other things, capital and liquidity requirements and the OCC's risk management expectations.