Kiffmeister’s #Fintech Daily Digest (04/24/2021)*

Paxos Gets Federal Bank Charter From OCC

The U.S. Office of the Comptroller of the Currency (OCC) has granted Paxos provisional approval for a federal bank charter that will allow it to conduct business across state lines. It only allows Paxos to operate as a trust bank, which can’t lend customer deposits. This is the third such charter granted to a crypto company, after custody firm Anchorage in January, and trading and lending firm Protego in February. 

A Fourth Ethereum ETF Hits Canada—Eighth Crypto ETF in North America

Toronto-based 3iQ Corp in partnership with CoinShares launched of an Ethereum exchange-traded fund (ETF) on the Toronto Stock Exchange (TSX). It’s the fourth Ethereum ETF to launch this week in Canada and the eighth crypto ETF now trading in the country. The US Securities and Exchange Commission (SEC), which has yet to approve a crypto ETF, currently has nine Bitcoin ETF applications to either approve or decline. 

*For those interested in intra-day updates and news that didn’t make the Daily Digest cut, please check out my Diigo fintech bookmarks: