RAIN JUST FILED WITH THE OCC FOR A NATIONAL TRUST BANK IN NEW YORK. IF APPROVED, IT WOULD CUSTODY DIGITAL ASSETS AND DOLLARS, MANAGE STABLECOIN RESERVES, AND ISSUE AND REDEEM DOLLAR-BACKED STABLECOINS FOR INSTITUTIONS. NO DEPOSITS. NO CONSUMER ACCOUNTS. NO LOANS. BRANDON SOTO, FORMER CFO OF SQUARE FINANCIAL SERVICES AND LATELY CFO OF COASTAL FINANCIAL, IS THE PROPOSED PRESIDENT AND CEO, PENDING OCC SIGN-OFF.
published
RAIN JUST FILED WITH THE OCC FOR A NATIONAL TRUST BANK IN NEW YORK. IF APPROVED, IT WOULD CUSTODY DIGITAL ASSETS AND DOLLARS, MANAGE STABLECOIN RESERVES, AND ISSUE AND REDEEM DOLLAR-BACKED STABLECOINS FOR INSTITUTIONS. NO DEPOSITS. NO CONSUMER ACCOUNTS. NO LOA
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