The institution would operate without the ability to accept deposits or make commercial loans if the federal charter is granted. The application specifies that the bank's primary functions will include reserve management and the custody of cryptocurrency assets for its clients.
Tuesday, October 20, 2026
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Rain Files for OCC National Trust Bank Charter for Digital Assets
Crypto15 days ago
The proposed New York headquarters would serve as a hub for reserve management and the redemption of virtual currency tokens. Stablecoin payments firm Rain has submitted an application to the Office of the Comptroller of the Currency (OCC) to launch a national trust bank focused on digital asset custody and stablecoin issuance.
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