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Circle, Ripple, and three other institutions have received conditional approval for a U.S. trust banking license, further advancing the integration of crypto and traditional finance.
BlockBeats News, December 13th, the Office of the Comptroller of the Currency (OCC) has just conditionally approved trust bank charters for five institutions: Ripple, BitGo, Digital Assets, Paxos, and Circle.
“Conditional approval” is a preliminary form of recognition, indicating that the OCC has reviewed the applications and deemed the companies generally compliant with regulatory requirements (such as capital adequacy, risk management framework, and business plan), but it is not a final license. Companies must meet specific conditions within a designated timeframe to convert to fully operational status.
Once all conditions are met, the OCC will issue a final, unconditional national trust bank charter. The companies can immediately exercise trust bank powers, primarily including expanding core businesses, acting as trustees to manage client assets, processing payment settlements, custodying digital assets (such as stablecoin reserves), and providing related financial services. However, a trust bank charter is different from a full-service bank and cannot accept deposits or make loans. They can apply for a Federal Reserve master account to expedite clearing and access the traditional financial system, further promoting the integration of crypto with traditional finance.
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WEEX P2P update: Country/region restrictions for ad posting
To improve ad security and matching accuracy, WEEX P2P now allows advertisers to restrict who can trade with their ads based on country or region. Advertisers can select preferred counterparty locations for a safer, smoother trading experience.
I. Overview
When publishing P2P ads, advertisers can now set the following:
Allow only counterparties from selected countries or regions to trade with your ads.
With this feature, you can:
Target specific user groups more precisely.Reduce cross-region trading risks.Improve order matching quality.
II. Applicable scenarios
The following are some common scenarios:
Restrict payment methods: Limit orders to users in your country using supported local banks or wallets.Risk control: Avoid trading with users from high-risk regions.Operational strategy: Tailor ads to specific markets.
III. How to get started
On the ad posting page, find "Trading requirements":
Select "Trade with users from selected countries or regions only".Then select the countries or regions to add to the allowlist.Use the search box to quickly find a country or region.Once your settings are complete, submit the ad to apply the restrictions.
When an advertiser enables the "Country/Region Restriction" feature, users who do not meet the criteria will be blocked when placing an order and will see the following prompt:
If you encounter this issue when placing an order as a regular user, try the following solutions.
Choose another ad: Select ads that do not restrict your country/region, or ads that allow users from your location.Show local ads only: Prioritize ads available in the same country as your identity verification.
IV. Benefits
Compared with ads without country/region restrictions, this feature provides the following improvements.
Aspect
Improvement
Trading security
Reduces abnormal orders and fraud risk
Conversion efficiency
Matches ads with more relevant users
Order completion rate
Reduces failures caused by incompatible payment methods
V. FAQ
Q1: Why are some users not able to place orders on my ad?
A1: Their country or region may not be included in your allowlist.
Q2: Can I select multiple countries or regions when setting the restriction?
A2: Yes, multiple selections are supported.
Q3: Can I edit my published ads?
A3: Yes. You can edit your ad in the "My Ads" list. Changes will take effect immediately after saving.
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