Morning Edition · Tuesday, October 6, 2026Published at 1:32 AM EDT · New York

Rain applies for a US trust bank charter to hold stablecoin reserves as Kraken's parent joins Singapore Gulf Bank's round-the-clock dollar network

Stripe separately plans stablecoin-linked cards in more than 100 countries by year-end. Total stablecoin supply stands at $314 billion, of which Tether accounts for $184 billion.

Rain, a stablecoin card and payments company, has applied for a US trust bank charter that would let it custody digital assets, manage stablecoin reserves and issue dollar-backed stablecoins. The application comes while the banking industry…