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Home›Crypto›Regulation›Rain applies for a US trust bank charter to issue stab…

Rain applies for a US trust bank charter to issue stablecoins

The proposed unit would custody client assets and manage stablecoin reserves, while avoiding traditional deposit-taking and commercial lending.

Reported · Written up by our desk · Regulation

Rain is seeking a US trust bank charter for a proposed subsidiary tied to stablecoin issuance, according to The Defiant.

The plan would set up the subsidiary to hold client assets and manage stablecoin reserves.

The subsidiary would not accept deposits or make commercial loans.

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Sources

The DefiantRain Seeks US Trust Bank Charter for Stablecoin Issuance

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