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A startup called Augustus just raised $180M at a $1B valuation. Building an AI-native clearing bank around stablecoins and always-on settlement.
Sit with this: it would be the 8th national bank charter the OCC has issued since 2010. Its CEO is 25. If final approval lands, he becomes the youngest federally chartered bank CEO in the US in 140 years.
Here's the logic. AI agents work 24/7. Correspondent banking is slow, unavailable on weekends, and takes two days to settle. You can't run always-on intelligence on sometimes-on money.
Their bet: in 10 years, every clearing bank offers stablecoin rails the way it offers Fedwire today.
AI doesn't need a better banking app.
It needs banking that never sleeps.
That's not a feature request. That's a rebuild.
https://x.com/i/status/2093248194398294304