The crypto companies Circle, Ripple, Fidelity Digital Assets, BitGo, and Paxos have received conditional approval from the OCC to become federally chartered trust banks.

BitGo CEO Mike Belshe stated that this development "marks the official end of the crypto wars and the beginning of the next era of banking innovation," adding, "We have entered an era of regulatory consolidation, and improvements will continue to occur rapidly."

It is worth mentioning that BitGo is the issuer behind USD1 (USD1), which is the digital dollar token of World Liberty Financial #美联储降息 $BTC .

Since Tether's entity is not based in the United States, it has not obtained the relevant licenses.