LATEST: US gives crypto giants initial approval to launch trust banks
By Hannah Lang
CRYPTO giants including Ripple and Circle have received preliminary approval from a top U.S. banking regulator to establish national trust banks, in a major move that could further integrate digital assets into the banking system.
The Office of the Comptroller of the Currency conditionally approved two new national trust bank charters from Circle and Ripple, and conditionally approved applications from BitGo, Paxos and Fidelity Digital Assets to convert state trust bank charters to national charters, allowing them to operate across the country.
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