Banking Exchange

Menu Core Providers, value-added relationships... | Core Providers, value-added relationships, and creative pathways for community and regional banks entering the digital asset economy. SPEAKER Nick Elledge, Co-Founder & COO at Stablecore Prior to Stablecore, Nick was the Co-Founder and COO of DataFleets, a privacy-preserving data engine born at Stanford University.

Despite extensive American sanctions aimed at cutting Iran off from global finance, billions of dollars linked to Tehran continue to pass through the US banking system each year, according to an investigation by the Wall Street Journal. Approximately $9 billion of Iranian funds passed through US accounts in 2024 via correspondent banking, a long-established system that allows banks in different countries to settle transactions and access the US dollar network.

UK fintech Revolut has received conditional approval from the US Office of the Comptroller of the Currency (OCC) to establish a national bank, bringing the company closer to launching a full-service US banking operation in 2027. The approval follows Revolut’s application for a US national bank charter in March and still requires further approval from the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve, as well as final OCC approval.

Anthropic is nearing a decision on which investment banks will take leading roles in what could become one of the largest initial public offerings in history, with Morgan Stanley and Goldman Sachs reportedly close to securing key positions. According to the UK's Financial Times (FT), Anthropic is considering Morgan Stanley for the influential “lead left” role, while Goldman Sachs is expected to act as stabilization agent once the company begins trading.

Right now, a digital-native institution is opening accounts and taking deposits several times faster than its bank and credit union competitors. Ask why, and someone might say they have better technology, or a cleaner app and lower fees, aimed at younger customers who don't need to visit a physical branch. That explanation is incomplete. The truth is, the banks winning aren't the ones that understand their customers best.

Banking Exchange will be hosting virtual events at 1 pm Eastern time on Thursdays, October 8–29, on Stablecoins and Tokenized deposits. The first topic will be Your Deposits Are Going Digital: What community and regional banks need to understand about tokenized deposits. In addition to an audience of bankers, Banking Exchange will welcome Dana Weinstein, Head of Product at Tesser, who has eight years of experience building payments products across US domestic and cross-border rails.

Menu Live session today at 1:00 p.m. Eastern Time, September 3 | At 1:00 p.m. Eastern Time today, September 3, Stablecore Chief Operating Officer Nick Elledge will be hosting a live session recapping the last 90 days of headlines reshaping stablecoins and payments, and what it means for financial institutions. Stablecore looks to help institutions defend their deposits through product innovation in stablecoins, tokenized deposits, and digital assets.

Menu What community and regional banks need to understand about tokenized deposits | What community and regional banks need to understand about tokenized deposits, stablecoins, and the regulatory framework taking shape right now. SPEAKER Dana Weinstein, Head of Product at Tesser Dana Weinstein is Head of Product at Tesser, bringing eight years of experience building payments products across US domestic and cross-border rails.

Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, has agreed to invest in tZERO as part of a collaboration to support its planned US tokenized securities platform. ICE will participate in tZERO’s latest financing round, although the size of the investment has yet to be disclosed. It will also receive a license to use tZERO’s blockchain patent portfolio for the NYSE-affiliated platform and other potential applications.

Polymarket is being valued at $21bn in a $1bn funding round led by 1789 Capital, the investment firm in which Donald Trump Jr. is a partner. 1789 Capital is expected to contribute approximately $300m, according to a spokesperson for the firm, after previously investing around $200m in Polymarket. The new valuation represents a 40% increase from the approximately $15bn at which Polymarket was valued several months ago.