The Daily: Ripple, Circle and BitGo win conditional approval for US banking charters, Hex Trust to issue and custody wrapped XRP, and more
Five crypto firms, including Ripple and Circle, received conditional U.S. bank charter approvals, while Hex Trust plans a wXRP launch.Summary
The U.S. Office of the Comptroller of the Currency (OCC) granted conditional national trust bank charter approvals to five crypto firms: Ripple, Circle, BitGo, Fidelity Digital Assets, and Paxos. This move signifies a major step toward federal regulation for these entities; for instance, Circle's approval allows it to custody its own reserves, and Ripple's approval brings its RLUSD stablecoin under direct OCC oversight. In other news, Hex Trust is set to issue and custody a 1:1-backed wrapped XRP token (wXRP) with over $100 million in initial TVL to expand XRP's utility across DeFi on chains like Solana and Ethereum. Additionally, YouTube is now allowing U.S. creators to receive payouts in PayPal's PYUSD stablecoin. The daily digest also noted community concerns regarding Aave Labs' potential diversion of swap fees via a new CoW Swap interface, and a lucky solo Bitcoin miner winning a $285,000 block reward against long odds.
(Source：The Block)