According to CoinDesk, United Texas Bank (UTB) announced that it has converted from a state-chartered bank to a federally chartered bank with the approval of the U.S. Office of the Comptroller of the Currency (OCC). UTB explained that this allows it to gain direct access to the Federal Reserve's payment network and aims to serve as a key bank connecting cryptocurrency companies with the U.S. financial system. The company added that it currently processes $10 billion worth of dollar payments per month for global cryptocurrency companies. UTB also announced plans to launch 'UTB Atomic', an AI-based real-time payment network, and 'UTB Prism Sentinel', an AML/BSA monitoring platform. The bank further explained that it plans to expand its custody and trust services in the future to respond to regulatory frameworks for stablecoins and digital assets (CLARITY Act, GENIUS Act).
