United Texas Bank gets federal charter to expand crypto services

United Texas Bank (UTB) has received approval from the U.S. Office of the Comptroller of the Currency (OCC) to convert from a state bank to a federally chartered institution, CoinDesk reported. UTB stated that this transition grants it direct access to the Federal Reserve's payment network, positioning it to become a key bank connecting cryptocurrency firms with the U.S. financial system. The company added that it currently processes $10 billion in dollar payments per month for global crypto businesses. UTB also announced plans to launch "UTB Atomic," an AI-based real-time payment network, and "UTB Prism Sentinel," an AML/BSA monitoring platform. The bank further explained it intends to expand its custody and trust services to comply with potential regulatory frameworks for stablecoins and digital assets, such as the CLARITY Act and the GENIUS Act.