Donald Trump urged banking groups on March 3 to “strike a favorable deal” with the crypto industry and warned any effort to weaken the GENIUS Act is “unacceptable.” His intervention raises political pressure as lawmakers negotiate the stalled bill.
Ripple announced a major revamp of its Ripple Payments platform to become a unified business service that bridges traditional finance and digital assets, building on capabilities from its Palisade and Rail acquisitions. The move signals a push to win more bank adoption for XRP-linked payments.
BitGo Europe has launched its Crypto-as-a-Service platform across 30 EEA countries, offering MiCAR-regulated digital asset infrastructure to banks and fintechs. The rollout mirrors BitGo’s U.S. offering while adapting to European regulatory requirements and enabling product launches via API integration.
Ripple CEO Brad Garlinghouse has called on banks to act in “good faith” as the Clarity Act advances, framing cooperation as essential to the law's success and broader crypto adoption. He positioned bank engagement as key to unlocking real-world use of digital assets like XRP.
The Office of the Comptroller of the Currency released the GENIUS Act framework explaining how banks, nonbank financial institutions, and foreign issuers could issue and operate stablecoins under U.S. banking oversight. The proposal aims to provide clearer supervisory paths for compliant stablecoin issuance.
Anchorage Digital is offering U.S.-compliant stablecoin rails to international banks to speed cross-border transfers and reduce reliance on correspondent banking. The move bundles custody, tokenized USD settlement and compliant onboarding for institutional clients.
A senior European Central Bank policymaker warned that implementing a digital euro could shave €4–6 billion off European banks’ revenues over a four-year rollout. The estimate underscores potential disruption to bank business models as policymakers design the retail CBDC.
ECB policymaker Cipollone said the digital euro will be structured to protect European card networks and keep banks central to the euro-area payments system, aiming to preserve incumbent infrastructure and stability.
The IMF finds stablecoins are increasingly integrating with the U.S. dollar financial plumbing rather than displacing traditional banks, tying crypto payments into existing dollar-based networks. This shift raises fresh regulatory and systemic considerations for policymakers and banks.
Major U.S. banks are pressing a federal regulator to pause approvals of crypto-focused bank charters, warning that unresolved rules pose risks. The push heightens tensions as crypto firms press for wider access to the U.S. banking system.