The stablecoin payments company’s proposed New York trust bank would custody digital assets and dollars, manage stablecoin reserves and issue and redeem dollar-backed tokens. Rain has applied for an Office of the Comptroller of the Currency charter to create a national trust bank that would custody digital assets and dollars and manage stablecoin reserves, issuance and redemptions for institutional clients. The proposed bank would not accept deposits, make commercial loans, offer consumer accou…
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