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Moreover, cryptocurrency companies and fintech startups are applying to open banks in the United States. Ripple, Coinbase and the UK payments company Wise have submitted applications for national trust charters this year. Trust banks cannot take deposits or make loans but charge fees for safekeeping customer assets and are not FDIC... read full story. This aspect of Why Every Company Suddenly Wants To Become A Bank Msn plays a vital role in practical applications.
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