Stablecoin

Institutional adoption of digital assets hinges on one foundational capability: secure custody

Noelle Acheson looks at what the outsourcing of stablecoin issuance means for the GENIUS Act, and for our understanding of money.

The Minneapolis-based bank is still exploring stablecoin options outside of custody services, but sees opportunity in trade finance, CEO Gunjan Kedia said at The Clearing House Annual Conference in New York Wednesday.

Comptroller of the Currency Jonathan Gould said Tuesday that chartering compliant fintechs is "the only way" to level the playing field between banks and nonbanks. His comments come as the Office of the Comptroller of the Currency weighs new trust charters and stablecoin rules.

Federal Reserve Vice Chair for Supervision Michelle Bowman said she wants banks to be competitive in the digital assets space, provided those operations are siloed from the traditional finance side of the business.

Findings from American Banker's On-Chain Finance Report show how market leaders view digital assets as a permanent fixture in the banking industry.

The United States cannot assume its early lead in stablecoins will last. Dollar-pegged tokens dominate today, but Japan's clear regulations and institutional adoption could mean yen stablecoins dominate tomorrow.

The legacy money transfer firm plans to launch USDPT, a coin designed to improve international payment processing. That and more in the American Banker global payments and fintech roundup.

The agency's approval of the stablecoin-focused Erebor will be the first of many applications to open new banks, many focused on nontraditional elements of the business.

Zelle's parent Early Warning Services said Friday it was planning to take its peer-to-peer payments network international through a new stablecoin initiative. It says the details will come later.

Stablecoins aren't fungible, and yet they're considered an on-chain substitute for money. Noelle Acheson argues that this is about more than a shift in definitions.

Speakers at the Most Powerful Women in Banking conference Tuesday shared several scenarios in which banks will benefit from dollar-pegged cryptocurrency.

Federal Reserve Gov. Christopher Waller has directed central bank staff to explore the concept of a limited payment account, which would give nonbank entities in the payments space — including crypto firms — access to traditional payment systems.

Banks and credit unions are steering away from stablecoins chiefly due to lack of customer demand, per new American Banker research.

The two companies are collaborating on making the digital asset private for payroll and other business transactions. While it's unusual, as the most well-known stablecoins are on public ledgers, tech firms are warming to the idea.

An internal error worth more than double the world's GDP highlights both the operational risks and the transparent, self-correcting nature of public blockchains.

Federal Reserve Governor Michael Barr said strong oversight mechanisms and consumer protections are needed for stablecoins to make them a more viable payment instrument.

New research from American Banker finds that financial institutions are asking about ROI, infrastructure costs and compliance burdens.

The conditional approval came with residency waivers for board directors and green-lights the bank's business model, which is aimed at serving tech companies and ultra-high net worth customers in the digital asset space.

New research from American Banker finds that most are still hashing out plans for crypto and stablecoins, but a handful have already launched projects.