The European Central Bank cautioned that rising stablecoin use may shift deposits away from banks, weakening banks’ lending capacity and the transmission of monetary policy across the euro area.
JPMorgan is expanding into stablecoins while arguing these tokens should be regulated under the same framework that applies to banks. The stance underlines traditional finance’s bid to shape crypto oversight as competition intensifies.
Barclays is reportedly building a blockchain-powered platform to handle payments and deposits, joining global banks pursuing faster, fully digital settlement. The initiative aims to speed clearing, improve liquidity and support tokenized cash use cases.
Sen. Elizabeth Warren called WLFI’s charter bid “the most disgraceful” corruption scandal, prompting a swift defense of the OCC’s procedures by the agency’s chief. The exchange highlights rising political friction over crypto bank approvals.
Morgan Stanley and Citigroup are expanding crypto offerings for institutional clients, strengthening custody, trading and tokenization capabilities. Their moves underscore rising demand from big investors and a shift toward more bank-led crypto infrastructure.
SoFi now allows true on-chain Solana (SOL) deposits for its 13.7 million customers under a federal bank charter, supporting direct wallet transfers rather than brokerage-style exposure. The move marks a first for a U.S. national bank and integrates native crypto rails under full federal oversight.
The OCC has broadened services allowed under a national trust charter, a move that could give Ripple and other crypto firms greater access to U.S. banking rails. The change may ease custody, payment, and on‑ramp operations for companies pursuing trust bank status.
Barclays is reportedly building a blockchain platform to support payments, stablecoins and tokenized deposits as it seeks to rival peers like JPMorgan. The move could expand its product suite and accelerate institutional tokenization.
Sen. Elizabeth Warren called WLFI’s charter application the “most disgraceful” corruption scandal, prompting a forceful defense of the Office of the Comptroller of the Currency chief who said the agency followed its procedures. The exchange highlights rising political scrutiny of crypto bank approvals.
Crypto dominated attention at the Senate Banking Committee hearing, focusing scrutiny on bank regulators and a recent OCC policy initiative. Lawmakers pressed officials on how banks should manage crypto-related risks and compliance.