Connect with us

Crypto World

Revolut, Zerohash Pursue US National Banking Charters

Published

on

Revolut, Zerohash Pursue US National Banking Charters

The global fintech applied to become a federally regulated, FDIC-insured bank, while the crypto infra firm is looking to become a national bank trust.

Two crypto-adjacent firms just applied to be federally regulated banks in the United States.

Today, Revolut — a UK-headquartered, retail-focused global neobank that offers crypto trading — announced it has officially filed for a national bank charter in the U.S. as part of its strategic push to expand financial services in the United States.

Just yesterday, March 4, digital asset infrastructure company, zerohash, announced that it has applied for a national trust bank charter in the U.S.

Advertisement

Both firms applied to the U.S. Office of the Comptroller of the Currency (OCC), and the charters would let them operate across all U.S. states. Revolut is also applying to the Federal Deposit Insurance Corporation (FDIC), as it seeks to be full-service, federally regulated bank in the U.S.

Revolut also announced today that it has appointed a new U.S. CEO, Cetin Duransoy.

Zerohash, which specializes in settlement services for digital assets and stablecoins, is seeking an OCC National Trust Bank license, which would restrict the firm to custody and trust services. The firm’s chief legal and compliance officer said in the release:

“Applying for a National Trust Bank Charter is a natural next step in offering robust global licensing coverage and continuing to expand our product offering.”

Zerohash’s press release also notes that the trust bank charter will let the firm “expand its services offerings under a federal framework, including those activities that fall under the GENIUS Act.”

Advertisement

A Growing Trend

Though it’s generally known as a fintech and neobank, Revolut has rapidly expanded its offerings into digital assets, adding crypto trading as early as 2017.

The trend of crypto-native and crypto-friendly firms pursuing traditional banking licenses is driven by a dual need for regulatory compliance and the desire to expand service offerings within the traditional financial system.

Since last year, several major crypto firms — including Ripple, Paxos and Circle — applied for national bank and national trust bank charters in the U.S.

Last week, Crypto.com received conditional approval from the OCC to establish its national trust bank, as The Defiant reported.

Advertisement

This article was generated with the assistance of AI workflows.

Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Crypto World

Web3 Foundation Refocuses on Global Advocacy as Polkadot Ecosystem Reaches Maturity

Published

on

Nexo Partners with Bakkt for US Crypto Exchange and Yield Programs

TLDR:

  • Web3 Foundation has closed its General Grants Program, Decentralized Voices, and several other key initiatives.
  • W3F is now focused on two pillars: global Web3 evangelism and responsible long-term asset management.
  • Polkadot’s next development phase is being led by Parity Technologies and its broader builder community.
  • On-chain treasury and governance tools remain active, ensuring decentralized funding continues without W3F oversight.

Web3 Foundation has announced a major strategic realignment, stepping back from its hands-on operational role. 

The organization is returning to its founding purpose: championing decentralized web technologies on a global scale.

For years, W3F actively helped bootstrap networks like Polkadot and Kusama into functioning, community-driven ecosystems.

As those networks have now reached a level of maturity, the Foundation is refocusing its priorities. It will concentrate on global advocacy and disciplined long-term asset management.

Concluded Programs Mark a Shift in the Foundation’s Operational Direction

Web3 Foundation has already closed several key programs as part of this transition. These include the General Grants Program, Support, Decentralized Voices, and Decentralized Nodes.

Advertisement

Each of these programs played a distinct role during the ecosystem’s early growth stages. Their conclusion marks a clear shift in how W3F operates.

Over the past year, W3F undertook a thorough review of its programs and spending. Several resource-heavy bounties were closed, and spending was carefully audited throughout this period.

Clearer documentation and operational guidelines were established based on lessons learned along the way.

Moreover, several additional initiatives are being evaluated for transition to external teams. These include the JAM Prize, Polkadot Governance Support, the Polkadot Wiki, and developer documentation.

The Knowledge Base and Kusama Vision are also among the programs being considered for handover.

Advertisement

Despite these changes, decentralized funding mechanisms remain fully active within the ecosystem. Communities still have direct access to on-chain governance and treasury tools for funding initiatives. These pathways continue to support innovation without requiring centralized oversight from the Foundation.

Two Core Priorities Will Define the Foundation’s Long-Term Strategy

Web3 Foundation is now centering its work around two clear pillars going forward. The first involves evangelizing and advancing the decentralized web on a global scale. The second focuses on safeguarding the Foundation’s assets in alignment with its broader Web3 mission.

At the same time, Polkadot is entering a phase focused on building products with real-world utility. Parity Technologies and a wider community of builders are now driving this development stage. The Foundation’s reduced operational role is designed to complement, rather than direct, this effort.

This transition also reflects how blockchain ecosystems naturally evolve over time. As networks become self-sustaining, support structures around them must adapt accordingly.

Advertisement

W3F is repositioning itself as a long-term steward rather than a day-to-day operational body. This approach allows the Foundation to focus on higher-level advocacy work.

Furthermore, this realignment places greater emphasis on disciplined asset allocation going forward. Resources will be directed toward efforts with the greatest global impact.

Through advocacy and financial stewardship, the Foundation aims to strengthen the Web3 ecosystem for years to come.

Advertisement

Source link

Continue Reading

Crypto World

WhiteBIT Coin ($WBT) Officially Listed on Kraken Exchange, Highlighting Its Growing Recognition

Published

on

WhiteBIT Coin ($WBT) Officially Listed on Kraken Exchange, Highlighting Its Growing Recognition

[PRESS RELEASE – Vilnius, Lithuania, March 5th, 2026]

WhiteBIT, the largest European cryptocurrency exchange by traffic, announces that its native WhiteBIT Coin (WBT) is now trading on Kraken, one of the world’s long-standing crypto platforms. WBT trading is available on WBT/EUR and WBT/USD pairs, giving more traders worldwide access to the coin and reflecting the asset’s growing recognition in the market.

The listing marks a significant milestone for WhiteBIT, following rapid growth in 2025, during which WBT surged 160%, reaching an all-time-high of $64.11 and solidifying its position as the 11th-largest cryptocurrency by market capitalization at $10.7 billion, according to CoinGecko.

“Listing WBT on Kraken represents a logical next step in the expansion of the WhiteBIT ecosystem,” said Volodymyr Nosov, Founder and President of W Group, which WhiteBIT is a part of. “It reflects the momentum we’ve built through ecosystem growth, strategic partnerships, and increasing institutional visibility. It’s another important endorsement of WBT’s value and its role in the future of digital finance.”

This momentum has been powered by the expansion of the W Group ecosystem, which WhiteBIT is a part of, including:

Advertisement
  • High-profile partnerships, such as the collaboration with Juventus, making WhiteBIT the club’s Official Sleeve and Cryptocurrency Exchange Partner.
  • Global market expansion, with new operations in South America and the United States.
  • Strategic cooperation in the Middle East, including partnership with Saudi Arabia to develop blockchain infrastructure and CBDC framework.
  • Institutional recognition, including WBT’s inclusion in the S&P Crypto Indices, reflecting the token’s growing liquidity and market relevance.

Launched in 2022, WhiteBIT Coin (WBT) is the native utility token of the WhiteBIT platform. It offers significant advantages within the WhiteBIT exchange ecosystem, including reduced trading fees (up to 100% discount), increased referral bonuses (up to 50%), and free daily withdrawals. Users also gain from free AML checks, staking rewards up to 22.1%, and exclusive access to new projects via the WhiteBIT Launchpad.

The addition of WBT to Kraken not only expands access for traders worldwide but also reinforces WhiteBIT’s commitment to developing a globally recognized exchange-native coin that delivers utility, liquidity, and long-term value.

About WhiteBIT

WhiteBIT is the largest European cryptocurrency exchange by traffic, offering over 900 trading pairs, 350+ assets, and supporting 8 fiat currencies. Founded in 2018, the platform is a part of W Group which serves more than 35 million customers globally. WhiteBIT collaborates with Visa, FACEIT, FC Juventus and the Ukrainian national football team. The company is dedicated to driving the widespread adoption of blockchain technology worldwide.

SPECIAL OFFER (Exclusive)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
Advertisement

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Source link

Continue Reading

Crypto World

SEC, Justin Sun Settle Lawsuit for $10M

Published

on

SEC, Justin Sun Settle Lawsuit for $10M

The Securities and Exchange Commission has ended its long-running fraud and securities violation lawsuit against Justin Sun in a $10 million settlement.

The US Securities and Exchange Commission has ended its lawsuit against crypto entrepreneur Justin Sun with a $10 million settlement, ending a two-year legal battle over alleged fraud and securities laws violations.

The SEC said in a letter to a Manhattan federal court on Thursday that Rainberry, one of Sun’s companies, would pay a $10 million fine, and claims against Sun and his companies, the Tron Foundation and BitTorrent Foundation would be dropped.

Advertisement

Related: Rep Waters demands SEC oversight hearing about its approach to crypto

The lawsuit, first filed in March 2023, accused Sun and his companies of selling unregistered securities via the Tronix (TRX) and BitTorrent (BTT) tokens and allegedly wash trading TRX.

Magazine: SEC’s U-turn on crypto leaves key questions unanswered

This is a developing story, and further information will be added as it becomes available.

Advertisement