The post CRCL Stock Price Gains 7% as Circle Secures OCC Charter for National Trust Bank appeared on BitcoinEthereumNews.com.
Key highlights: The OCC has approved Circle’s application to launch a national trust bank The bank can offer crypto custody services under federal oversight Ripple, BitGo, and Paxos are still waiting for final approval Ark Invest buys 217,896 CRCL stocks Circle has reportedly secured approval from the US Office of the Comptroller of the Currency (OCC) to establish the Circle National Trust. The development marks a major milestone in the company’s expansion of its USDC stablecoin business, and has resulted in CRCL stock gaining roughly 7%. With this approval, Circle has become one of the first crypto companies to get a regulatory nod from the OCC to launch a chartered bank. Other major players, including Ripple, are still waiting for the final approval to become a federally regulated trust bank. Circle gets OCC nod to launch National Trust Bank Circle, the iss
The post Circle Wins OCC Approval for Nationwide USDC Reserve Trust Bank appeared on BitcoinEthereumNews.com.
Key Takeaways: The Office of the Comptroller of the Currency (OCC) has issued its final approval of a national trust bank founded by Circle. Circle can hold its stablecoins on the Federal Reserve’s books from now on. In the Federal Charter, the provision is added to the legal regulation of stablecoins, which puts the stablecoin issuer under direct control of national banking regulators. Final pledges by the U.S. Office of the Comptroller of the Currency clear the way for Circle to launch a national trust bank. This is the stablecoin issuer’s lengthy process of evaluation completed. The approval places the firm in the category of a financial institution chartered by the federal government and makes it no longer a state-regulated money transmitter. Circle’s main business systems are going to be deployed in the federal banking system. At the time of writing, USDC is the second (by
The post Ripple Cuts RLUSD Ethereum Supply to $692 Million appeared on BitcoinEthereumNews.com.
According to recent data from Ripple Stablecoin Tracker, Ripple USD (RLUSD) supply on the Ethereum network has shrunk to about $692 million as Ripple continues to adjust the stablecoin’s circulating supply through token burns. At the start of July, RLUSD supply on Ethereum was above $727 million; now this figure has decreased, with millions in Ripple USD burned on the Ethereum network in the last seven days. $115.4 million was burned on the Ethereum blockchain in the last seven days as seen on the Ripple Stablecoin Tracker website, while $49.3 million was minted in the same timeframe. On July 29 alone, $25.9 million was burned on the Ethereum blockchain while $6.2 million in RLUSD was minted. ‘Not Happening’: Former SWIFT Exec Shuts Down XRP Integration Rumors XRP, Shiba Inu, Solana (SOL) and Ethereum (ETH) Price Analysis for June 10: Market Fuel Comes In Handy The last 30 days saw significa
The post Ex-SWIFT Executive Rejects XRP Integration Claims: “Not Happening” appeared on BitcoinEthereumNews.com.
Former SWIFT executive Tom Zschach rejects claims that the network plans to integrate XRP. Viral XRP rumors lacked official evidence, with no SWIFT statement confirming support. Zschach’s latest remarks reinforce his long-standing skepticism toward Ripple and XRP. Former SWIFT Chief Innovation Officer Tom Zschach has dismissed claims that the global financial messaging network plans to support or integrate XRP. The rumors spread after an XRP community post suggested that SWIFT would support public digital assets like XRP instead of creating its own cryptocurrency. Zschach responded with a short but direct statement: “Not happening.” His reply pushed back against claims that SWIFT planned to work with XRP-based payment infrastructure rather than compete with it. Viral XRP Claims Had No Supporting Evidence XRP community figure SMQKE shared excerpts from an alleged document cla
The post Circle (CRCL) Wins Final OCC Approval For National Trust Bank appeared on BitcoinEthereumNews.com.
Circle Internet Group secured final approval from the U.S. Office of the Comptroller of the Currency today, to establish a national trust bank, a milestone that sent the stablecoin issuer’s shares higher and deepened its ties to the federal banking system. The regulator cleared Circle to charter First National Digital Currency Bank, N.A., which will operate under the name Circle National Trust. The company, which trades on the New York Stock Exchange under the ticker CRCL, said the charter places the new entity under direct federal oversight by the OCC, the primary supervisor for national banks and national trust banks. Circle National Trust will provide fiduciary custody services for digital assets held by Circle and its affiliates. Under the business plan the OCC approved, the bank could extend custody services to a limited set of institutional customers, with a focus on banks
Circle wins OCC approval to launch Circle National Trust, bringing USDC custody and reserve operations under federal oversight. Circle has received final approval from the U.S. Office of the Comptroller of the Currency. The approval allows the company to form First National Digital Currency Bank, N.A. The bank will operate as Circle National Trust once […]
The post Circle Wins OCC Approval to Launch First National Digital Currency Bank appeared first on Live Bitcoin News.
The post Analyst Says XRP’s Billion-Dollar Unlock Is Old News, Ripple’s Bank Ambitions Aren’t appeared on BitcoinEthereumNews.com.
The post Analyst Says XRP’s Billion-Dollar Unlock Is Old News, Ripple’s Bank Ambitions Aren’t appeared first on Coinpedia Fintech News Ripple released roughly $1 billion worth of XRP from its escrow this week, an amount large enough to catch the attention of traders watching the token’s price action closely. Asked how to interpret the timing, given XRP’s recent price weakness, one analyst pushed back on the idea that the unlock signals anything unusual. “This is … Source: https://coinpedia.org/news/analyst-says-xrps-billion-dollar-unlock-is-old-news-ripples-bank-ambitions-arent/
The post Crypto Biz: USDT vs USDC Roles Diverge as Euro Stablecoins Grow Under MiCA appeared on BitcoinEthereumNews.com.
Crypto’s infrastructure is starting to look a lot more like traditional finance. New data from Dune shows that the world’s stablecoin leaders — Tether’s USDT and Circle’s USDC — are no longer competing for the same users, with each now dominating a different corner of the market. Meanwhile, demand for MiCA-compliant euro stablecoins is accelerating, hinting that the stablecoin economy is slowly expanding beyond the US dollar. Elsewhere in Crypto Biz, Strategy reignited debate over its “never sell” philosophy after offloading more than $200 million in Bitcoin (BTC) to fund shareholder dividends, while Vanguard signaled that even Wall Street’s biggest crypto skeptics are embracing tokenization. USDT, USDC use cases diverge as stablecoins become chain-specific USDT has become crypto’s dominant payments stablecoin while USDC has cemented itself as DeFi’s preferred settle
