circle getting occ bank charter approval means they can custody crypto as a federal bank. coinbase gemini and kraken still operating on state money transmitter licenses. $74b usdc supply about to come with federal reserve access and direct lending capabilities. coinbase trades at $60b market cap running the exact same custody business without banking powers ...

This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. LAS VEGAS – Nabbing its own bank charter is Revolut’s “mission” in the U.S., in part to get direct access to regulators, the fintech’s top stateside executive, Sid Jajodia, said Tuesday. “While the partnership model works well, you miss out on things,” he said onstage at the Money 20/20 conference in Las Vegas. “You don't have a seat at the table with the regulator. ...

Core Insights - QED Investors and Oliver Wyman have released a report titled "Seizing the bank charter moment: Implications for fintechs and banks" which explores the current landscape and opportunities for fintechs and traditional banks [1] Group 1 - The report is based on expert insights, secondary research, proprietary analysis, and discussions with over a dozen C-suite executives from leading fintech companies [1] - It highlights the implications of bank charters for fintechs and traditional banks, suggesting a pivotal moment for both sectors [1]