🐕 Wild Dog Crypto · Morning Briefing (October 27)
1️⃣ Ripple gets the real deal: the U.S. Office of the Comptroller of the Currency (OCC) has granted final approval for its national trust bank. After receiving conditional approval last December, Ripple National Trust Bank can now manage RLUSD reserves, serve as collateral trustee for RLUSD holders, and provide institutional-grade digital asset custody (Cointelegraph, BusinessWire). RLUSD itself is still issued by a New York-regulated trust company—this adds another layer of federal oversight. Circle received final approval first, in July; Coinbase, Crypto.com, and Stripe-owned Bridge are still waiting in the conditional-approval stage. Let’s be honest: the so-called “crypto vs. banks” war is already over—the winners are turning into banks.
2️⃣ Canada has published draft stablecoin rules, and it hasn’t budged an inch on banning yield. The 60-day consultation period ends December 23: non-bank issuers must register with the Bank of Canada, hold 1:1 reserves at qualified Canadian financial institutions, redeem at par within three business days, and cap redemption fees at 1% (Decrypt, CoinDesk). Issuers can’t pay interest for holding stablecoins—not directly, and not indirectly through a third party—but transaction-based rewards are still allowed. The goal is to have the rules in place by fall 2027. In plain terms, Canada copied the U.S. playbook and added one extra clause: redeeming your own money could cost you up to 1%.
3️⃣ Meanwhile, the OCC is recruiting everywhere: it’s urging community banks to apply to become compliant stablecoin issuers under the GENIUS Act, either directly or through a subsidiary (Cointelegraph, PYMNTS). The pitch is “community banks are back”—small banks can handle payments themselves instead of watching crypto firms and big banks eat their lunch. But there’s a catch: the application portal isn’t open yet (it’s waiting for forms to be approved), and the final rules take effect on January 18, 2027—after that, issuing without a license could carry criminal penalties. What a recruitment poster: “Join the future. The doors will open later.”
4️⃣ Kraken parent company Payward wants to be the first CFTC-regulated deployer on Hyperliquid HIP-3*—offering compliant perpetual futures to U.S. users on the Hyperliquid chain (TheBlock, CoinLab). Bitnomial will build the market and handle clearing and settlement, while NinjaTrader Clearing will manage customer accounts. Everything is subject to regulatory approval, and HIP-3* is still on testnet, so this is an expression of intent, not a launch. Still, a regulated exchange, clearinghouse, and broker all stacked on DeFi rails—that’s the “DeFi goes compliant” narrative, bundled into one package.
Just the facts—no predictions, no shilling. 🐕
This is not investment advice.
1️⃣ Ripple gets the real deal: the U.S. Office of the Comptroller of the Currency (OCC) has granted final approval for its national trust bank. After receiving conditional approval last December, Ripple National Trust Bank can now manage RLUSD reserves, serve as collateral trustee for RLUSD holders, and provide institutional-grade digital asset custody (Cointelegraph, BusinessWire). RLUSD itself is still issued by a New York-regulated trust company—this adds another layer of federal oversight. Circle received final approval first, in July; Coinbase, Crypto.com, and Stripe-owned Bridge are still waiting in the conditional-approval stage. Let’s be honest: the so-called “crypto vs. banks” war is already over—the winners are turning into banks.
2️⃣ Canada has published draft stablecoin rules, and it hasn’t budged an inch on banning yield. The 60-day consultation period ends December 23: non-bank issuers must register with the Bank of Canada, hold 1:1 reserves at qualified Canadian financial institutions, redeem at par within three business days, and cap redemption fees at 1% (Decrypt, CoinDesk). Issuers can’t pay interest for holding stablecoins—not directly, and not indirectly through a third party—but transaction-based rewards are still allowed. The goal is to have the rules in place by fall 2027. In plain terms, Canada copied the U.S. playbook and added one extra clause: redeeming your own money could cost you up to 1%.
3️⃣ Meanwhile, the OCC is recruiting everywhere: it’s urging community banks to apply to become compliant stablecoin issuers under the GENIUS Act, either directly or through a subsidiary (Cointelegraph, PYMNTS). The pitch is “community banks are back”—small banks can handle payments themselves instead of watching crypto firms and big banks eat their lunch. But there’s a catch: the application portal isn’t open yet (it’s waiting for forms to be approved), and the final rules take effect on January 18, 2027—after that, issuing without a license could carry criminal penalties. What a recruitment poster: “Join the future. The doors will open later.”
4️⃣ Kraken parent company Payward wants to be the first CFTC-regulated deployer on Hyperliquid HIP-3*—offering compliant perpetual futures to U.S. users on the Hyperliquid chain (TheBlock, CoinLab). Bitnomial will build the market and handle clearing and settlement, while NinjaTrader Clearing will manage customer accounts. Everything is subject to regulatory approval, and HIP-3* is still on testnet, so this is an expression of intent, not a launch. Still, a regulated exchange, clearinghouse, and broker all stacked on DeFi rails—that’s the “DeFi goes compliant” narrative, bundled into one package.
Just the facts—no predictions, no shilling. 🐕
This is not investment advice.