Senate Banking Chairman ‘Concerned’ by OCC’s Crypto Charters
Sherrod Brown specifically pointed to the OCC trust charters granted to Paxos, Protego and Anchorage.
Paxos's reserves consisted of only cash and U.S. Treasury bills.
Mastercard will use the USDC stablecoin as a bridge asset for cardholders who want to pay for goods using cryptocurrencies.
Bitcoin is holding up following a strong bounce from $30,000 support.
Credit Suisse, Instinet and Societe Generale are also part of the program, which is meant to shrink stock settlement times to hours, not days.
The market cap of gold-backed tokens has surged 30-fold since the start of 2020, according to one research firm.