Meet the Tiny Crypto Banks Participating in Visa’s Stablecoin Pilot
Key Takeaways
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Visa selected two small state banks to pilot stablecoin settlement in the United States.
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Cross River Bank and Lead Bank don’t have any significant retail footprint, nor do they have a national bank charter.
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However, they play a crucial role in the U.S. fintech ecosystem.
Unless you’re actively involved in the intricacies of American fintech banking, you’ve probably never heard of Cross River Bank or Lead Bank.
Yet, with just a few billion dollars in deposits between them, the two institutions were selected by Visa to participate in a stablecoin settlement pilot that…
