
OCC proposes 7-day stablecoin redemption window during demand spikes
- —The OCC proposes a standard redemption window of two business days after a request
- —Requests exceeding 10% of issuance within 24 hours extend the window to 7 calendar days
- —The rule applies to issuers under OCC jurisdiction and does not affect the secondary market
- —As of September 13, the rule remains on the OCC's list of proposals
Why it matters: The rules will determine how quickly holders of USDC and other stablecoins can convert tokens into bank dollars during demand spikes.
Source: CryptoSlate