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Rain has filed an application with the OCC to establish Rain National Trust Bank, which would provide custody, reserve management, and stablecoin issuance if approved. Brandon Soto has been named proposed president and CEO. The bank will not accept deposits, offer consumer accounts, or make commercial loans.
Rain has filed an application with the Office of the Comptroller of the Currency (OCC) to establish Rain National Trust Bank.
Stablecoin payments infrastructure company Rain has filed an application with the Office of the Comptroller of the Currency to establish Rain National Trust Bank, headquartered in New York.