Lead Bank reportedly reduces cooperation with some stablecoin payment companies

Golden Finance reports that, according to informed sources, due to concerns over taking on excessive risk for clients, lending institution Lead Bank has reduced its cooperation with some stablecoin payment companies in recent months, adding restrictions on acceptable client source countries and industries. Other industry insiders stated that, due to stricter scrutiny of user identities and fund sources, transaction settlement times and account opening times have also been extended. Lead Bank’s move is significant because it is one of the few banks still willing to handle USD payments for stablecoin users. Most well-known stablecoin payment startups, such as Bridge under Stripe, BVNK, and Brale, rely on Lead Bank to provide services for users seeking to exchange between fiat currency and cryptocurrencies.