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Crypto Startup Metal Pay Files for National Bank Charter
News

Crypto Startup Metal Pay Files for National Bank Charter



Peer-to-peer crypto payments platform Metal Pay has filed to become a national bank in the U.S.

The startup filed a charter application for “First Blockchain Bank and Trust, N.A.” with the Office of the Comptroller of the Currency (OCC) on Feb. 3, CEO Marshall Hayner told CoinDesk.


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Metal Pay will shortly file applications with the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Bank of San Francisco, Hayner said.

“This would be the first FDIC-insured crypto bank,” Hayner said, adding it would give them a leg up in banking institutional clients.

This story is developing and will be updated.

Source: CoinDesk.com

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