Lead Bank Tightens Restrictions on Stablecoin Payment Companies

According to Foresight News, The Information reports that Lead Bank has recently reduced its collaboration with certain stablecoin payment companies due to concerns over excessive risk to clients. The bank has introduced new restrictions on acceptable customer source countries and industries. Industry insiders have noted that stricter scrutiny of user identities and funding sources has led to longer transaction settlement times and extended account opening durations. Lead Bank remains one of the few banks willing to handle dollar payments for stablecoin users. Many well-known stablecoin payment startups, such as Stripe's Bridge, BVNK, and Brale, rely on Lead Bank to facilitate exchanges between fiat and cryptocurrencies.