Augustus, a new stablecoin bank in the United States, announced that it has obtained a national banking license from the Office of the Superintendent of the Currency (OCC) and completed a $40 million financing. The company was founded in 2022 and focuses on cross-border clearing infrastructure based on stablecoins and AI. It hopes to "upgrade the clearing system to the AI era" and currently holds a European banking license. It processes cross-border euro settlement business for institutions such as cryptocurrency exchange Kraken, with an annual trading volume of billions of euros. The company's investors include Valar Ventures and Creandum under Peter Thiel, as well as the founders of Ramp, Deel, and Circle. Augustus stated that it has obtained a full OCC banking license, rather than the limited trust license previously obtained by companies such as Ripple, which allows for deeper integration into the US banking system. https://(wublock123.com)/news/us-stablecoin-bank-augustus-gets-occ-license-raises-40m-60855