Recently, an interesting move has taken place: a stablecoin project under a mainstream crypto platform has officially submitted a national trust bank license application to the Office of the Comptroller of the Currency (OCC).

What does this mean? In simple terms, if approved, they will be able to handle the entire process of issuing, custody, and redemption of USD1 stablecoins on their own, no longer relying on third-party infrastructure providers like BitGo. This is a positive development for institutional users—making processes more streamlined and potentially reducing costs.

The deeper significance lies in the fact that this reflects a gradual shift in the US regulatory attitude. The OCC's more lenient stance towards crypto-related applications opens up new opportunities for stablecoin development.

However, it is worth noting that this has also sparked some discussions. Some question whether this trust architecture might pose potential conflicts of interest. The official response is that the trust structure is designed precisely to separate operational rights and ensure risk isolation.

In any case, this application demonstrates the market's continued optimism for institutional-grade stablecoin applications and the ongoing trend of further integration between traditional finance and the crypto sector.