Rain is seeking an OCC charter for a trust bank to custody digital assets and manage or issue stablecoin reserves—not take deposits or make loans. Its application faces review as community bankers challenge the OCC’s authority to approve crypto-focused trust banks.
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Circle reportedly wants MiCA to judge stablecoin reserves by how quickly they can fund redemptions, rather than by fixed bank-deposit shares. The shift could improve flexibility, but rapid withdrawals may also put added pressure on banks.
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Block is reportedly seeking a bank charter to custody bitcoin and stablecoins, a move that could strengthen regulated crypto infrastructure as the FDIC relaxes its stance on certain bank crypto activities. But the filing itself isn’t verified in the provided material.
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BlackRock is deepening its push into tokenized finance with two new fund share classes built for stablecoin reserves and institutional cash management, signaling that Wall Street is getting serious about blockchain rails — not memes, but the plumbing.
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Fidelity is entering the stablecoin reserve game with FYMXX, a money market fund built to hold Treasuries and other liquid assets as U.S. regulators edge closer to clearer rules. It’s a quiet power move with big implications for crypto’s dollar plumbing.
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