Crypto

Would a bank charter make crypto safer? Two sides of U.S. federal trust bank approval

An analysis says crypto firms may not fully escape political pressure or supervisory risks even if they obtain a U.S. federal trust bank charter. The charter can strengthen legal standing for custody while bringing firms into direct oversight by the Office of the Comptroller of the Currency. The article contrasts interpretations of Silvergate’s liquidation and notes conditional approvals for several trust bank moves. It adds that regulators retain control through approval conditions and revised supervisory rules.

Crypto

Stablecoin payment card volume tops $1 billion in August, hits records for volume, transactions and users

Stablecoin-based crypto payment cards hit monthly records in August for transaction value, number of payments and users. Payment volume reached $1.076 billion, marking a second straight month above $1 billion. Payments totalled about 10.67 million and active addresses rose to more than 283,000. RedotPay led by value and transactions. Growth was notable in emerging markets, while activity remained concentrated in a few programs and the overall market stayed small.