Crypto custodian Protego gets national charter from the OCC
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....
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The stablecoin issuer has nabbed a banking license, but it doesn't mean they'll be doing any banking in the traditional sense. The U.S. Office of the Comptroller of the Currency (OCC) has granted today stablecoin company and PayPal collaborator Paxos a federal charter to form a national trust bank — just the third such charter the OCC has granted crypto-native companies. Paxos joins custody firm Achorage, who was the first to receive a charter in January, and fellow custodian Protego, which received their conditional charter in February. As with the previous two charters, the “bank” label....
If its application is approved, Anchorage would be the first crypto company to get a national bank charter.
The conditional approval from the U.S. banking regulator follows Anchorage's approval last month.
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 – […]