Stablecoin Firm Rain Applies for US Bank Charter to Operate Independently

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Stablecoin payments provider Rain is seeking a national trust bank charter in the United States. The company aims to establish a trust bank based in New York. This charter would allow it to custody digital assets and dollars, manage stablecoin reserves, and issue and redeem tokens directly. The move is intended to enable Rain to operate without relying on third-party banking partners.

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