The industry made progress toward mainstream adoption of stablecoins

Source: Jake Chervinsky, Crypto Law & Policy Newsletter, Q1 2021 in Review.

The industry made progress toward mainstream adoption of stablecoins as the OCC authorized banks to use them for transaction settlement and Visa became the first major payments network to support settlement with USDC. It’s unclear if the OCC’s guidance will survive scrutiny from Biden officials or if Visa’s offering will gain traction, but regardless, both developments signal increasing comfort with stablecoins among institutional compliance departments.

Read more: Jake Chervinsky, Crypto Law & Policy Newsletter, Q1 2021 in Review.

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