Chime Explores Stablecoin Integration in Digital Banking Platform
US fintech company Chime Financial is exploring the integration of stablecoin functionality into its digital banking platform, marking the expansion of stablecoin applications from cryptocurrency trading to everyday payments and financial services.
The move comes as a wide range of players, including payment giants and tech companies, make moves in response to the gradually clarifying regulatory framework in the US. Founded in 2012, Chime has grown into one of the larger digital banking fintech companies in the US, with over 10.4 million active users.
Chime invited multiple blockchain technology companies to submit proposals for an 'end-to-end' stablecoin wallet service in late spring. If successful, this would enable users to access and use stablecoins directly through Chime's application without needing to set up separate accounts on third-party platforms.