In response to a request for comment on potential rules from the Office of the Comptroller of the Currency (OCC), many major players in crypto have written in, asking the regulator to expand the authorizations it gives banks to handle cryptocurrencies and use blockchain technology.
One of the leaders in blockchain-backed financial services, Silvergate Bank wrote to the OCC to promote blockchain as a more efficient way for banks to send money to each other and between client accounts. Silvergate pointed to USD-backed stablecoins like USDC or USDT as examples of how much quicker this system could be:
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