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United Texas Bank Receives OCC Approval to Upgrade to National Bank Charter, Enabling Crypto Dollar Settlement

GateNews
Partnerships & Ecosystem

According to ChainCatcher, United Texas Bank has received approval from the U.S. Office of the Comptroller of the Currency (OCC) to convert its state bank charter to a national bank charter. The upgrade allows the bank to directly access the Federal Reserve's payment systems, including ACH (Automated Clearing House) and Wire transfers, while maintaining FDIC deposit insurance coverage.

The move enables United Texas Bank to provide stable U.S. dollar banking services to crypto exchanges, over-the-counter trading desks, and stablecoin-related businesses, addressing liquidity and settlement challenges in the cryptocurrency market.

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