AGP Executive Report
Last update: 10 hours agoRegulatory Clarity for Banks: US federal banking agencies and FinCEN clarified SAR confidentiality rules for customer communications, stressing it’s a clarification not a new supervisory standard. Embedded Banking Push: FIS launched an embedded banking platform so corporate software can offer accounts and payments inside existing tools, with pilot banks including Cogent Bank and M&T Bank. US Banking Expansion: Revolut received conditional OCC approval for a US banking push, while OpenReserve secured preliminary OCC approval for a blockchain-native national bank tied to a compliant stablecoin. Mortgage Rates Watch: Major banks lifted floating mortgage rates after an OCR rise to 2.75%, with lenders signaling continued pressure on housing affordability. Stablecoin Rails Go Mainstream: SoFi linked its bank-issued stablecoin SoFiUSD to Kraken’s trading network for 24/7 USD settlement, while Standard Chartered began DIFC-regulated spot BTC/ETH trading for institutions in the UAE. Tokenization in Dubai: VARA and Securitize signed an MoU to advance regulated tokenization infrastructure in the Emirates. Crypto Market Momentum: Binance saw about $1B in net stablecoin inflows in August, supporting a broader crypto rebound.
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