U.S. Banks can now hold reserve funds for stablecoin issuers

New guidance was released today for national banks and federal savings associations allowing them to hold reserve funds for stablecoin issuers.

U.S. Banks can now hold reserve funds for stablecoin issuers

Following the news of Kraken becoming the first hybrid "crypto bank", additional guidance was released allowing national banks and federal savings associations to hold reserve funds for stablecoin issuers that meet certain criteria. This opinion provides greater regulatory certainty for banks within the federal banking system to provide client services legally to cryptocurrency companies.

The Block (Sept 21, 2020)