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Agora Files OCC Trust Charter as Banks Seek Slower Genius Act Rollout
Agora filed for a national trust bank charter with the OCC last week as major U.S. banks sought longer public comment periods before the Genius Act is fully implemented. Agora CEO Nick van Eck said banks worry that reward-bearing stablecoins could pull deposits from traditional banks. Nick van Eck said Agora is targeting approval by year-end so it can issue stablecoins directly under federal oversight.