OCC Approves Three Crypto Trust Banks, Eroding Ripple's Regulatory Edge
- —OCC approved Bastion, Catena and Agora applications on Sept. 18
- —Agora will move AUSD issuance from Bermuda to its US bank
- —Bastion will offer white-label stablecoin issuance and custody
- —Approvals are conditional: banks must launch within 18 months
Why it matters: A federal banking charter is becoming less scarce, weakening the exclusivity of Ripple's approval and intensifying competition in stablecoin infrastructure.
Source: Yahoo Finance Crypto