Rain Files With OCC to Establish National Trust Bank for Stablecoin Payments
- —RNTB would hold digital assets and dollars as a fiduciary under OCC supervision
- —The bank would manage reserves and issue stablecoins under the GENIUS Act
- —RNTB would not accept deposits or make commercial loans
- —Brandon Soto, ex-CFO of Square Financial Services, is proposed as CEO
Why it matters: Approval would set a precedent for federal oversight of stablecoin infrastructure and intensify competition for trust charters.
Source: PR Newswire Blockchain