Stablecoins are becoming banks amid Ripple’s OCC bid, Tether’s USAT push, and BoE’s proposed wallet caps

Stablecoin issuers are moving toward bank charters in the United States, Tether is planning a U.S. product, and the Bank of England has proposed caps on holdings of systemic stablecoins. Ripple has applied to form Ripple National Trust Bank, a federal trust institution that could custody assets and, subject to separate Federal Reserve decisions, seek […]