Aug. 13 at 8:47 PM
Chime Financial is exploring the integration of stablecoins into its consumer banking platform, according to Bloomberg, in another sign that digital-dollar technology is moving beyond crypto markets and into mainstream financial services.
The San Francisco-based fintech reportedly asked blockchain technology companies in late spring to submit proposals for end-to-end stablecoin wallet services. Rain, a stablecoin infrastructure startup, was among the companies that held discussions with Chime, according to people familiar with the plans and a document cited by Bloomberg.
Integrating stablecoin wallets directly into Chime's banking app could allow customers to send and receive digital assets without opening separate accounts with cryptocurrency exchanges or other providers. Stablecoins, generally pegged to the U.S. dollar, have attracted growing interest from traditional financial institutions as a potential way to enable faster, lower-friction payments and 24/7 money transfers.
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