Rain Seeks OCC’s Approval to Create National Trust Bank

Stablecoin infrastructure firm Rain is applying for a national trust bank charter from the OCC. For retailers, this represents a significant move toward making digital assets and stablecoins a mainstream payment method. If approved, Rain would be able to manage stablecoin reserves and custody under federal oversight. This bridges the gap between traditional banking and modern digital payments. For your business, this means the infrastructure for 'instant' settlement is maturing. Traditional credit card processing often leaves funds in limbo for days. Stablecoin payments, backed by a regulated bank, could eventually allow you to receive funds almost instantly with lower transaction fees. This move by Rain signal that the 'plumbing' for the next generation of consumer payments is being built now. While you don't need to change your checkout process today, you should watch this space. Regulated digital banks will make it safer and easier for you to accept non-traditional payments without the volatility risks usually associated with crypto.

Source: PYMNTS

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