Key Highlights: Stablecoin infrastructure firm Rain has filed an application with the OCC to form Rain National Trust Bank, a New York-headquartered national trust bank. Led by proposed CEO Brandon Soto, the entity would hold institutional assets in fiduciary custody and support dollar-backed stablecoin issuance under the $GENIUS Act without offering retail loans or taking ...
Key Highlights: Payments infrastructure company Rain has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish Rain National Trust Bank. If granted approval, the proposed entity will offer fiduciary custody for digital assets and U.S. dollars, manage reserves for permitted stablecoin issuers, and issue USD-backed stablecoins without functioning as ...
Key Highlights: Firms like Rain and Modern Treasury are actively pursuing national trust bank charters to offer digital asset custody and fiduciary backing under federal oversight. The Independent Community Bankers of America (ICBA) has filed a lawsuit against the OCC and Comptroller Jonathan Gould, arguing the agency exceeded its authority by granting light-touch charters to ...
MoneyGram has launched a Visa stablecoin card in Colombia, giving eligible customers access to dollar-linked balances, card payments and local cash collection. The virtual MoneyGram Card became available through the company’s mobile application on September 10, with support for Apple Wallet and Google Wallet for online and contactless payments wherever Visa is accepted. Product architecture ...