Core Insights - Coinbase is considering applying for a federal bank charter, joining other crypto firms like Circle, Ripple, and Paxos in seeking a trust charter [3][5] - Currently, Anchorage Digital is the only crypto firm with a trust bank charter, which was approved by the OCC in January 2021 [4] - A trust bank charter has a limited scope compared to a traditional bank charter, focusing on asset management and trust administration without the ability to lend or take insured deposits [5] Company Developments - Coinbase has $425 billion in assets on its platform as of June 30, indicating its significant market presence [5] - The OCC charter is expected to streamline oversight for new offerings and foster innovation in integrating digital assets into traditional finance [6] - Coinbase aims to launch new products beyond crypto custody, including payments and other services, with regulatory clarity if the charter is secured [7] Industry Reactions - Bank trade groups have expressed concerns about the trust charter applications from crypto firms, labeling them as risky and potentially destabilizing to consumer confidence in the banking system [6][7] - The Independent Community Bankers of America has urged the OCC to postpone decisions on these applications, highlighting the perceived risks associated with uninsured deposit-like accounts [6][7]

RT s4mmy (@S4mmyEth)As Bitcoin [temporarily] breaks all time highs it begs the question; "wen alt szn?"AI will be at the forefront of this rally, particularly as stablecoins gather momentum & Issuers realize that Agents drive the next phase of stablecoin adoptionHere's the DeAI news roundup from the past week:- Microsoft Launches Unified Agent Framework. This integrates Model Context Protocol (MCP) and Agent to Agent (A2A) which allows crypto agents to use the entire MS suite of tools- @bankrbot reveals its ...

As part of an expansion of its services, American cryptocurrency exchange Coinbase is pursuing a national trust company charter from the Office of the Comptroller of the Currency (OCC). It has now joined the list of other digital asset service providers seeking the same charter in recent times. The exchange believes that holding this charter will bring significant changes to its operation. Coinbase to Become a Bank? On October 3, Coinbase informed the public of its pursuit of the United States OCC Federa ...

Core Viewpoint - Coinbase has applied for a national trust charter with the U.S. Office of the Comptroller of the Currency, aiming for federal regulatory oversight to enhance its custody business and offer additional services without becoming a full-service bank [1][2]. Group 1: Regulatory Moves - The national trust charter would allow Coinbase to expand its financial services, such as crypto payments, without needing state-by-state approvals [3]. - This application aligns with a trend among crypto companies, including Circle, Ripple, and Paxos, seeking federal supervision this year [3]. Group 2: Current Operations - Coinbase's existing regulated custody service operates through Coinbase Custody Trust Company, which is licensed under New York state's BitLicense regime, established in 2015 [2]. - The company emphasizes that it does not intend to become a bank, focusing instead on innovation within a clear regulatory framework [2].

Coinbase Global (COIN) has applied for a national trust bank license, joining the throng of other crypto firms seeking a credential that has some in the banking industry skittish. The company is seeking this novel banking charter from the Office of the Comptroller of the Currency (OCC) to grow its institutional custody business, according to Coinbase vice president and head of institutional product Greg Tusar. "We're excited about getting a national trust charter for our custody business and think that d ...

Core Insights - Chainlink's recent integration with SWIFT solidifies its role in the evolving blockchain infrastructure that is transforming global finance [1][2] Group 1: Integration and Functionality - Chainlink's SWIFT integration establishes a standardized framework for transferring digital assets between financial institutions, starting with tokenized funds [3] - The integration allows banks to manage on-chain assets using ISO 20022, the universal standard for interbank messaging [3][6] - The initial pilot focused on UBS Tokenize, but the platform's design allows for extension to other banks' tokenization systems like HSBC's Orion and JPMorgan's Kynexis [4] Group 2: Interoperability and Standards - Chainlink's cross-chain interoperability protocol (CCIP) enables communication between different blockchains, similar to how SWIFT facilitates interbank messaging [5] - The SWIFT integration translates ISO 20022 messages into blockchain-native calls, facilitating necessary actions across various tokenization engines [6] Group 3: Broader Adoption and Partnerships - As financial institutions adopt tokenization, they increasingly depend on Chainlink's infrastructure, which has partnered with major players like Intercontinental Exchange, Euroclear, and DTCC [8] - Chainlink is also involved in central bank digital currency (CBDC) pilots globally, including initiatives in Singapore, Hong Kong, and Brazil [9]

The European Central Bank (ECB) has gained backing for a sweeping stablecoin ban across the European Union (EU), a move that could disrupt major issuers such as Circle and Paxos. At the center of the debate are so-called multi-issuance stablecoins, tokens jointly issued in the EU and abroad, but treated as interchangeable. Under this model, EU-licensed issuers must hold reserves within the bloc, while their non-EU partners continue to manage reserves for identical tokens overseas. According to a Bloombe ...

据市场消息，欧洲央行正在为禁止在欧盟与其他司法管辖区同时发行的稳定币争取支持，这为未来 围绕Circle和Paxos等运营商如何跨境管理业务的冲突埋下伏笔。知情人士透露，负责维护欧洲金融体系 安全的欧洲系统风险理事会(ESRB)上周通过了一项建议，呼吁禁止所谓的"多方发行"(multi-issuance)稳 定币。该指导意见由央行行长和欧盟官员组成的高级委员会批准，虽然不具法律约束力，但会对地区监 管机构施加压力，要求其落实相关限制，或解释在缺乏限制的情况下如何维持金融稳定。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com （责任编辑：刘静 HZ010） ...

This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Dive Brief: Adrienne Harris, the superintendent of New York’s Department of Financial Services, is leaving the agency, Gov. Kathy Hochul said in a release Monday. Kaitlin Asrow, who leads the regulator’s research and innovation division, will serve as acting superintendent beginning Oct. 18, according to the release. Harris, a former Obama staffer, began in her ro ...

A version of this story appeared in The Guidance newsletter on September 29. Sign up here. Hey all, Liam here. Canada’s previously icy stance on crypto is thawing. Or, at the very least, industry advocates have identified a key opportunity to raise the temperature. That’s according to Yves la Rose, the CEO of the Vaulta Foundation and member of one of the country’s largest crypto lobbying groups, the Canadian Blockchain Consortium. “Since the Genius Act has passed, the conversation has restarted,” Rose ...