CoinDesk reported that cryptocurrency startup Agora applied for a federal trust bank charter with the US Office of the Comptroller of the Currency (OCC) last week. If the charter is approved, direct issuance of stablecoins will be possible under federal supervision. Agora CEO Nick Van Eck stated, "We can eliminate excessive fees in the fiat-to-crypto conversion process." Agora plans to expand its business beyond issuance to include custody, compliance, and infrastructure services.
