CoinDesk • Appeared October 7th 2026 9:10 am
Rain is seeking a national trust bank charter to bypass third-party banks
The stablecoin payments company’s proposed New York trust bank would custody digital assets and dollars, manage stablecoin reserves and issue and redeem dollar-backed tokens.
Our Summary:Rain, a digital banking platform, is seeking a national trust bank charter in the United States to bypass third-party banks. This move aims to expand its services and reduce costs. Rain has already secured regulatory approvals and is expected to launch its new services soon.
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