United Texas Bank Wins Approval to Convert to Federal Charter, Expand Crypto Payments and Custody

United Texas Bank, or UTB, has won approval to convert into a federally chartered bank, a move that comes as U.S. lenders push further into cryptocurrency payments and custody.

CoinDesk reported on May 27 that UTB received approval from the Office of the Comptroller of the Currency to switch from a state-chartered bank to a federally chartered one.

The approval gives UTB direct access to the Federal Reserve's payment network. The bank said it aims to become a key banking link between crypto companies and the U.S. financial system.

UTB is currently processing $10 billion in monthly dollar payments for global crypto companies, according to the report. It also plans to launch UTB Atomic, an artificial intelligence-based real-time payment network, and UTB Prism Sentinel, an anti-money laundering and Bank Secrecy Act monitoring platform.

The bank also plans to expand custody and trust services that can support stablecoins and digital-asset regulatory frameworks such as the CLARITY Act and the GENIUS Act.

The move comes as U.S. banks broaden their push into stablecoins and tokenized financial infrastructure. Regulatory frameworks and supervisory standards remain key variables.