Happy Thursday, Blockfolians
Here’s a short list of banks that have new crypto offerings on the way
BBVA - $698B in assets
Standard Chartered Bank - $720B in assets
DBS Bank - $333B in assets
At the same time, you have more and more crypto institutions applying for licenses to become banks. The latest is Paxos, who have applied for a federal banking charter. Paxos have been in the news lately for powering PayPal’s crypto offering, and this could give them even more room to grow. BitPay and Anchorage are also in the federal banking charter application process.
The lesson here? To reinforce what Wells Fargo said earlier this week: “fads don’t last 12 years.” Given how everyone is racing to become crypto banks, seems like this little crypto industry may be here to stay.
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Highly Relevant Reading
Pro-crypto CFTC Chair Heath Tarbert stepping down
Lil Yachty sold out his new crypto token because apparently it’s 2017 again
European Central Bank adds 500B euro in new stimulus
Mandatory KYC rules coming in France
Our FinTwit friends stirring the hornet’s nest (with good intention)
Could regulation stop the rally before it really gets going?
A Really Big Number We Should Be Paying Attention To
That’s how much chart views of bitcoin on TradingView grew from the month previous
Sing it, Raoul!