Augustus Receives OCC Conditional Approval to Charter the First Clearing Bank For The AI Era

Chartwell Partners is pleased to recognize Augustus on receiving conditional approval from the Office of the Comptroller of the Currency to establish Augustus Bank, N.A. as a full‑service U.S. national bank. This milestone positions Augustus to become the first clearing bank built for the AI era, leveraging an AI‑native, programmable core designed to support instant, always‑on clearing for global financial institutions. The approval marks a significant advancement for the company as it prepares to expand its platform to include U.S. dollar clearing alongside its existing regulated European operations.

Under the leadership of CEO Ferdinand Dabitz and President Greg Quarles, Augustus is building a modern banking infrastructure engineered for autonomous, machine‑initiated financial workflows. Their combined regulatory, operational, and technology expertise has enabled Augustus to design a next‑generation clearing model intended to strengthen Western currency competitiveness and modernize the underlying infrastructure supporting global trade.

“The Chartwell Team congratulates CEO Ferdinand Dabitz and our President Placement, Greg Quarles, on this unique accomplishment,” said Scott Petty, Partner of Chartwell Partners’ Financial Services Practice.

About Augustus

Augustus is building the first clearing bank for the AI era, built on a stablecoin- and AI-native core, enabling real-time settlement, 24/7 transactions, and programmable money. Augustus is processing billions for global financial institutions like Kraken today. Augustus was founded in 2022 by Ferdinand Dabitz, Joshua Becker, Simon Wimmer, and Peter Lieck, and has raised $40 million. They’re backed by Peter Thiel’s Valar Ventures, Creandum, and the founders of companies like Ramp, Deel, and Circle.

About Chartwell Partners

Chartwell Partners is a retained executive search and leadership advisory firm. Founded in 2005, the firm serves a variety of industries across the nation. Chartwell’s Financial Services Practice, led by Scott Petty, has conducted more than 300 successful executive search assignments for over 50 clients during the last decade. The team prides themselves on their reputation of consistency, confidentiality, and long-term success of their placements.