OCC Encourages Community Banks to Explore Stablecoin Issuance
Edited by Steinar Vigdel Kolnes, Editor, Oslo
The OCC is encouraging community banks to issue stablecoins, though applications are not yet open and new issuers generally need approval to operate in the US.
The Office of the Comptroller of the Currency (OCC) is encouraging community banks to enter stablecoin issuance, according to The Defiant.
The application process has not yet opened, leaving banks unable to apply for now.
New issuers typically need regulatory approval before launching operations in the United States. The OCC’s encouragement does not itself provide authorization to begin issuing stablecoins.
Source: The Defiant
