ChainCatcher message, according to The Information citing informed sources, due to concerns about the high risks undertaken by customers, Lead Bank has reduced its collaboration with certain stablecoin payment companies in recent months, adding restrictions on acceptable customer source countries and industries. Other industry insiders have indicated that due to stricter reviews of user identities and sources of funds, transaction settlement times and account opening times have also been extended.
Reports indicate that Lead Bank is currently one of the few banks still willing to process USD payments for stablecoin users. Most well-known stablecoin payment startups, such as Bridge under Stripe, BVNK, and Brale, rely on Lead Bank to provide services for users wishing to exchange between fiat and cryptocurrency.