OCC grants Ripple, BitGo, Paxos, Circle, and other five **'quasi-bank' level passes** at once.

This is not an ordinary good news; it is a regulatory upgrade moment for the cryptocurrency industry.

Key points:

These institutions will be able to custody assets, process payments, and manage stablecoin reserves in the future.

They can also apply for a Federal Reserve master account, which means true access to the U.S. dollar system.

They do not have the status of commercial banks, but 'entering the front door' is already shocking enough.

In summary:

The U.S. has officially pushed some cryptocurrency companies into the lobby of traditional finance.