The superregional bank, which pulled the plug on bitcoin custody services in 2022, is reintroducing those services following the demise of an unfavorable SEC rule.

The arguments banking trade groups are raising against granting charters to digital asset firms are the same scare tactics they used against money market funds, online brokers and fintech lenders.

BNPL lender Klarna officially revived its highly anticipated IPO, and cryptocurrency exchange Gemini also announced plans for a public offering. The offerings follow Chime and Circle's blockbuster IPOs in June.

Noelle Acheson points out that, while banks are unlikely to issue stablecoins, the related businesses they are likely to end up offering could set the stage for a transformation of their relationship with their clients.

By using a public blockchain, a potential digital euro could be made more widely available. Plus, Klarna expands its merchant reach as it resurrects plans for an IPO, Binance faces an audit and more in the American Banker global payments and fintech roundup.

Federal Reserve Vice Chair for Supervision Michelle Bowman floated the idea of allowing employees to hold small amounts of digital currencies, arguing that it would help with retention and understanding of the product. But some questions whether the move will yield those results, or raise ethical problems instead.

FRNT is designed to streamline government disbursements while acting as a lure for digital financial services firms.

The Office of the Comptroller of the Currency Thursday terminated a 2022 enforcement order against Anchorage Digital, the first federally regulated crypto bank, at a time when fintechs and crypto firms are increasingly seeking national trust charters.

More nonbank digital asset firms are applying for national trust charters, a development that many banking organizations oppose due to what they say is inadequate oversight, lack of congressional intent and no FDIC backstop.

Federal Reserve Gov. Christopher Waller said the private sector and central bank play complementary roles in payment innovation and stressed the need to maintain that collaboration as crypto technologies become more mainstream.