Federal Reserve Governor Christopher Waller introduced a payment account proposal on October 21 that would provide stablecoin issuers and crypto firms access to Fed payment systems without full master account rights. The account would enable Fedwire and ACH connectivity while excluding interest payments, overdraft facilities, and emergency lending access. The framework aims to support payments innovation while limiting central bank exposure to digital asset entities.

Custodia Bank and Vantage Bank Texas have launched a nationwide platform enabling U.S. banks to issue blockchain-based tokens backed by FDIC-insured deposits. The tokens function as traditional deposits within participating institutions and convert to stablecoin-like instruments during inter-institutional transfers. Three trial transactions were completed on Ethereum in March, with Bitcoin integration currently in development.

Ledger launched an integrated multisig feature on October 24, 2025, charging a $10 flat fee per transaction plus 0.05% on token transfers. Developers and security researchers criticized the closed-source implementation and fee structure, arguing it contradicts the company's original ethos.

Polymarket has confirmed plans to launch a native POLY token and conduct an airdrop distribution. Chief Marketing Officer Matthew Modabber said Thursday the platform will prioritize its U.S. application launch before proceeding with token deployment. The company aims to build long-term utility into the asset rather than rush its release.

Crypto.com has filed an application with the U.S. Office of the Comptroller of the Currency for a National Trust Bank Charter. The move would allow the exchange to offer custody and staking services nationwide under federal oversight. Crypto.com joins Coinbase, Circle, Paxos, Stripe, Ripple, and Sony in pursuing federal regulatory recognition, with Anchorage Digital Bank currently holding the only active federal trust charter since 2021.

Crypto.com filed an application with the U.S. Office of the Comptroller of the Currency on Friday for a national trust charter to broaden custody services for digital assets including ETFs and treasury products. The exchange joins Ripple Labs, BitGo, and Circle Internet Group in seeking federal oversight. The company currently operates as a state-registered non-depository trust in New Hampshire.

Early Warning Services (EWS), which operates the Zelle peer-to-peer payment network, announced plans to enable cross-border money transfers using stablecoins. The initiative aims to extend Zelle's domestic payment capabilities to international transactions. Zelle processed over $1 trillion in peer-to-peer payments in 2024, with August 2025 volumes reaching approximately $108 billion.

Stripe has launched Tempo, a Layer-1 blockchain designed for payments, while completing acquisitions of stablecoin platform Bridge and crypto wallet provider Privy. JPMorgan estimates Stripe's addressable market exceeds $350 billion. The payments giant achieved profitability in 2024 and processed over $1.4 trillion in transaction volume.