Key Takeaways:

• Blockchain Capital’s Spencer Bogart notes over 20 crypto firms now seek OCC charters to integrate with banks.
• Securing 1 federal OCC charter gives firms like Ripple credibility to attract serious institutional capital.
• Next, 20+ OCC-chartered crypto firms, like Coinbase, will unlock large banks and sovereign wealth funds.

The End of the Decentralized Fantasy: Why Crypto Firms Are Now Seeking to Become Banks

The cryptocurrency industry has gone from professing a mentality of substituting the current financial system to just seeking to become an alternative and integrate with legacy financial rails.

Spencer Bogart, general partner at Blockchain Capital, explained that this change, which shifted the trend for crypto…