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US Grants Preliminary Approval for Crypto-Friendly Banks

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Revolut and OpenReserve have received preliminary US regulatory approval to establish national banks.

The Office of the Comptroller of the Currency (OCC) granted conditional approval for Revolut's proposed bank in Connecticut and OpenReserve's in Utah.

Revolut plans to offer digital asset custody, allow customers to use crypto assets for cross-border transfers, and issue its own branded stablecoins through a third party.

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