Here's what's moved the needle at the intersection of banking + Bitcoin over the past few weeks:
🏛️ White House brokers the biggest flashpoint: stablecoin "yield"
The White House convened senior leaders from banks and crypto on January 28 to unblock the stalled market-structure effort — with the core dispute being whether firms can pay "interest" or "returns" on stablecoin balances. Banks argue this creates deposit flight and stability risk; crypto firms say it's essential for competitiveness. A follow-up meeting was scheduled for February 2.
Source: CoinDesk, Yahoo Finance
🏦 Standard Chartered quantifies the threat: $500B of deposits at risk
A new Standard Chartered estimate warns U.S. banks could lose up to ~$500B in deposits to stablecoins by 2028, with regional banks most exposed. Huntington Bancshares, M&T Bank, Truist Financial, and CFG Bank are named as particularly vulnerable. This research is now driving the policy narrative behind the stablecoin-yield fight.
Source: CoinDesk, Yahoo Finance
🧱 FDIC GENIUS Act implementation goes procedural (comment cycle is live)
The FDIC's proposed application procedures for FDIC-supervised institutions seeking to issue payment stablecoins are in motion — with a comment deadline of February 17, 2026. The proposed rule establishes procedures for insured state nonmember banks or state savings associations seeking to issue stablecoins through subsidiaries under the GENIUS Act. This is the kind of "boring plumbing" that turns stablecoins from talk to bank workflows.
Source: Federal Register, FDIC Press Release
⚡ Federal Reserve Board "payment account" concept stays hot
The Fed's "payment account" idea — limited-purpose access for clearing/settling payments — remains a live policy thread. The comment period closed February 6. These "skinny" master accounts would let eligible fintech and non-traditional institutions access Fed payment rails without full master account privileges. If implemented broadly, it could reshape how stablecoin issuers and crypto firms interface with legacy settlement infrastructure.
Source: Federal Reserve, The Block
🏛️ Charter race accelerates: new entrants want federal banking perimeter status
Nu gets conditional OCC approval to establish a U.S. national bank
On January 29, Nu Holdings (Nubank) received conditional OCC approval to establish Nubank, N.A. — a de novo national bank based in McLean, Virginia. Once fully approved, the charter will allow Nu to offer deposit accounts, credit cards, lending, and digital asset custody in the U.S. Co-founder Cristina Junqueira will lead the U.S. operation, with former Central Bank of Brazil president Roberto Campos Neto as Board Chair.
Source: Business Wire, CoinDesk
Laser Digital files for a national trust bank charter
On January 27, Nomura subsidiary Laser Digital announced a de novo OCC application to form a national trust bank focused on digital asset custody and spot trading — a direct signal that institutional crypto is pursuing "inside-the-perimeter" models. If approved, Laser Digital National Trust Bank would offer crypto custody, staking, and trading services nationally without state-by-state licensing.
Source: GlobeNewswire, CoinDesk
📈 Infrastructure gets public-market validation: BitGo IPO
BitGo's IPO — priced at $18 (above the $15-$17 range), raising ~$212.8M — is a notable institutional signal. Listed on NYSE under ticker BTGO, this is the first crypto IPO of 2026 and the first publicly traded company to offer pure-play exposure to the crypto custody business. Custody/settlement infrastructure is being valued like real financial-market plumbing — not just "crypto speculation." VanEck projects $400M revenue and $120M EBITDA by 2028.
🏦 Big-bank product posture: Morgan Stanley files for Bitcoin + Solana ETFs
On January 6, Morgan Stanley became the first major U.S. bank to file for in-house branded cryptocurrency ETFs — the Morgan Stanley Bitcoin Trust and Morgan Stanley Solana Trust. The Solana product would allocate a portion to staking. This reinforces the direction of travel: major banks increasingly want exposure to digital asset product manufacturing, not just distribution. Morgan Stanley is also planning crypto trading on E*Trade in H1 2026.
Source: Morgan Stanley, Bloomberg
🌍 Competitive pressure: crypto platforms ship "bank primitives"
Bybit plans to offer IBAN-linked "MyBank" accounts via partner banks (including Pave Bank) in February 2026, supporting 18 fiat currencies. Users can hold fiat, receive cross-border transfers, and convert to crypto instantly. CEO Ben Zhou says the company is considering U.S. market entry with a licensed partner and eyes a public listing. Another example of crypto firms productizing bank-like features, pushing expectations upward for what "financial apps" do by default.
Source: CoinDesk, Bloomberg Law
📌 Wrap-up
Over the last few weeks, the story tightened into a single theme:
Stablecoins are becoming the policy battleground where banking, payments rails, and crypto market structure collide — and Washington is actively mediating the outcome.
Meanwhile, charters, IPOs, and ETFs are turning "crypto" into regulated financial infrastructure. The regulatory perimeter is expanding to embrace digital assets, while crypto platforms are shipping bank-like primitives that raise the bar for traditional finance.
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