A proposed de novo in Dallas plans to work stablecoin into its business plan.
The proposed Augustus National Bank plans to have a subsidiary called Juno Moneta that would provide issuance, custody, conversion, and payment of U.S. dollar-denominated, reserve-based stablecoins, according to an application with the Office of the Comptroller of the Currency.
The bank would be wholly owned by Augustus Holding, which already owns Ivy GmbH, a German fintech.
A public notice filed in connection with the application listed six organizers. Three members of the group — Julius Ahr , Ferdinand Dabitz and Simon Wimmer — are based in Germany. The other founders are Greg Quarles, Joseph Schenone and Bruce Wallace.