🚨Adding more context here: The @USOCC's conditional approvals span both newly created (de novo) national trust banks and state-chartered trust companies converting into the federal system. De novo approvals are @Ripple National Trust Bank and First National Digital Currency Bank (aka @circle). The other three are state-to-national conversions: @BitGo Bank & Trust, Fidelity @DigitalAssets and @Paxos Trust Company. Comptroller Jonathan Gould said each application received a standard “rigorous” review and that each company must meet additional conditions before becoming fully operational. He added that new entrants help modernize and diversify the banking system and broaden access to innovative financial products.(Eleanor Terrett)