Overview
- Bank of America frames the move by U.S. regulators as the start of a transition that brings stablecoins and tokenized deposits into the banking perimeter.
- The OCC recently granted conditional national trust bank charters to five digital-asset firms, enabling fiduciary crypto custody subject to liquidity, compliance, and risk controls.
- The FDIC is expected to unveil a notice of proposed rulemaking this week on approval pathways for payment stablecoins issued by subsidiaries of FDIC‑supervised banks.
- Under the GENIUS Act, those stablecoin rules must be finalized by July 2026 and take effect in January 2027, with Federal Reserve officials indicating coordination on capital, liquidity, and diversification standards.
- On the market-structure front, JPMorgan and Singapore-based DBS are testing an interoperable tokenized-value framework across public and permissioned blockchains, while BofA foresees on-chain settlement expanding to bonds, equities, money-market funds, and cross-border payments.