Blockchain-Based Lender Figure Technologies Applies for US National Bank Charter

Protego joins Anchorage as the first string of digital asset firms to get national trust bank licensing. The Office of the Comptroller of the Currency has granted another crypto firm a national charter.Per an announcement shared with Cointelegraph today, Washington-based institutional crypto custodian Protego is the second crypto-native firm to get national licensing from the OCC. The new charter is conditional, and Protego is authorized as a national trust bank rather than a traditional bank, meaning that it will not handle deposits. Interestingly, Protego is a relatively new firm and is....

A major network of state banking regulators is renewing its attack on the OCC's moves to register non-depository institutions. A leading association of state banking regulators is trying to put the U.S. national banking regulator in its place on the issue of fintech registration.Per a Dec. 22 filing, the Conference of State Bank Supervisors, or CSBS, says the impending approval of Figure Technology's bank charter a bridge too far. Figure operates blockchain-backed lending and investment services. It announced its application to the Office of the Comptroller of the Currency for a charter at....

Singapore-based cryptocurrency exchange Crypto.com (CRO) announced on Friday its intention to apply for a national trust bank charter with the US Office of the Comptroller of the Currency (OCC).  This move aligns Crypto.com with other major firms in the industry, including Coinbase (COIN), Ripple Labs, stablecoin issuer Paxos, and Sony Bank, who are also pursuing […]

Coinbase has now applied for a national trust charter with the Office of the Comptroller of the Currency (OCC). This move comes as the American crypto exchange seeks to expand its payment operations amid the rise of favorable crypto policy in the US. Related Reading: Bitcoin Spot Demand Surges As Coinbase Premium Signals Strength – […]

Over the past few years, New York state has proven to take aggressive stances to financial technology. The state of New York has a somewhat unusual reputation when it comes to financial regulation. The state’s regulator is not too keen on the OCC’s bank charter pan for fintech firms. Overseeing the financial technology sector is a coveted price, and a national bank charter may not be the best idea. It is unusual to see NY state go after the OCC this way, although it remains unclear how things will play out. Not too long ago, the OCC proposed their plans for a national bank charter in the....