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Texas United Bank has received an upgraded OCC license and will offer U.S. dollar settlement services for cryptocurrencies
Svmuu reported that United Texas Bank announced it has received approval from the Office of the Comptroller of the Currency (OCC) to convert its state bank charter into a national bank charter. This conversion allows the bank to directly access the Federal Reserve payment system (ACH and Wire) while maintaining FDIC insurance coverage. Consequently, it will provide more stable US dollar banking channels for crypto exchanges, OTC trading desks, and stablecoin-related businesses, addressing US dollar settlement and liquidity issues in the crypto market. (FinanceFeeds)
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