Definition
A clearing bank provides settlement and correspondent infrastructure that moves money across payment rails — distinct from issuing a currency or stablecoin.
Key Points
- augustus positions as AI-native clearing bank connecting Swift/ACH/SEPA and stablecoin rails without issuing its own stablecoin
- Thesis: programmable-money and AI agents need 24/7 rails analogous to Fedwire-class clearing within a decade
- US national bank charter path via occ enables direct dollar access vs layered intermediaries