Cryptocurrency startup Agora applied for a federal trust bank license with the US Office of the Comptroller of the Currency (OCC) last week, CoinDesk reported. If approved, direct issuance of stablecoins will be possible under federal supervision. Agora CEO Nick Van Eck stated, "We can eliminate excessive fees in the fiat-crypto conversion process." Agora plans to expand its business beyond issuance to include custody, compliance, and infrastructure services.
