Apr. 2 at 9:45 PM
$COIN receives conditional approval from OCC to operate as a trust bank
The approval is a preliminary agreement that Coinbase’s application meets key regulatory req'ts, subject to fulfilling certain conditions before it can actually operate as a trust bank.
When finalized, Coinbase will be able to operate payment products in addition to its custody business under federal supervision & would be regulated directly by the OCC rather than be subject to state-based regulation
CLO: “Over the long haul we will be able to explore, with the OCC, offering not just custody products but also other infrastructure products, particularly around payments, that we think will expand & extend crypto payments in all sorts of new & interesting and important directions"
CEO: Coinbase has “stretch goal” to make USDC the No. 1 stablecoin in the world (currently held by Tether’s USDT) & that he aims to make Coinbase “the No. 1 financial services app in the world” in the next few years
$PYPL $XYZ $CRCL $HOOD
