PayPal has applied for an industrial bank charter in Utah to support issuance of the PYUSD stablecoin and expand into business lending and yield-bearing savings accounts. The move would bring PYUSD activity under state banking supervision and enable deposit-like products.
Ripple received conditional OCC approval to form Ripple National Trust Bank, a move CEO Brad Garlinghouse called “huge news.” He also criticized the banking lobby for resisting crypto-specific charters.
PNC has started offering a Coinbase-backed spot Bitcoin service to private banking clients, letting customers buy, sell and store BTC directly through their online accounts. The product, first revealed in July, begins a phased rollout aimed at wealth clients.
JPMorgan’s CEO defended the bank’s actions as multiple cryptocurrency firms reported account closures, saying decisions reflect risk management and compliance obligations. The wave of closures has renewed concerns about crypto firms’ access to fiat banking services.
Texas-based Monet Bank has shifted its business model to serve cryptocurrency and digital asset firms, positioning itself as a dedicated crypto lender. The change aims to expand tailored credit and banking options for the growing crypto industry.
VTB said on December 5, 2025 that it plans to offer spot cryptocurrency trading to clients in 2026, aiming to be the first Russian bank to provide direct access to spot markets. The rollout will depend on regulatory approvals and details about custody and trading partners.
Bank of America will permit wealth advisors to recommend crypto allocations in client portfolios starting next month, the bank announced Thursday. The move is seen as a milestone for mainstream acceptance of digital assets within traditional wealth management.
BNP Paribas is among ten European banks that formed Qivalis in the Netherlands to issue a euro-backed stablecoin, aiming to deliver a regulated digital euro payment solution.
Bolivia’s Economy Minister José Gabriel Espinoza announced the integration of stablecoins into the country’s banking system, part of a broader plan to modernize the national economy. The move would make Bolivia one of the first countries to embed crypto-based payment tools directly into traditional financial services.
JPMorgan's fraud-related concerns prompted the removal of Strike's CEO, raising fresh questions about banks' role in crypto custody and payments. Senator Lummis warned that tight banking restrictions could push the digital asset industry overseas, increasing regulatory and operational risk for US-based firms.