The special-purpose bank, licensed by the state of Wyoming, has drawn the support of investors and some policymakers. But banking groups say the digital assets that underlie its business model are highly volatile.

There's often more guidance on what not to do than what to do, says Texture Capital's Richard Johnson.

Circle Internet Financial Inc., a developer of the USD Coin digital token, has hired an executive from the Facebook Inc.-backed Diem Association to spearhead strategy and policy efforts.

Cryptocurrency wallet provider Neptune is launching a new service that will allow investors to manage multiple currencies for various uses through a single channel.

The two payment brands have found ways to limit currency conversion risk — a key concern among banks and merchants.

The two payment brands have found ways to limit currency conversion risk — a key concern among banks and merchants.

Visa Inc. said its payments network will use a stablecoin backed by the U.S. dollar to settle transactions, as blockchain technology gains more acceptance in the established financial system.

Wallex hopes its EURST stablecoin will be transparent and familiar enough to appeal to mainstream payment companies.

Paysafe is adding cryptocurrency options to its Skrill digital wallet in the U.S. through a partnership with Coinbase that will allow users in most states to buy and sell multiple cryptocurrencies.

Democratic leaders are encouraging the Federal Reserve to develop its own digital currency to expand financial services access. Chair Jerome Powell indicated the central bank plans to take a methodical approach.