The Federal Deposit Insurance Corporation (FDIC) has approved deposit insurance for a proposed national bank built in part around digital assets and stablecoins, marking one of the clearest signals yet that federal regulators are willing to bring cryptocurrency-focused business models inside the federally insured banking system.
The FDIC approved the application of Dallas-based Augustus National Bank, which plans to combine conventional deposits and lending with virtual currency, payments and treasury services.
The bank previously received preliminary conditional approval for a national charter from the Office of the Comptroller of the Currency (OCC) in May and must satisfy additional conditions before becoming fully operational.
For more details, see the original report at PYMNTS.
