#加密资产监管 OCC's "Conditional Approval" is worth paying attention to, but don't be blinded by superficial good news. Ripple, BitGo, Circle, and five other institutions received national trust bank licenses. The core logic is that they can directly connect to the Fedwire and CHIPS systems, potentially reducing cross-border settlement costs by 30-50%. This indeed has a catalytic effect on stablecoin reserve custody and institutional fund inflows.

However, the restrictions are also clear—under the trust bank model, they cannot accept deposits or issue loans. Their business scope is limited to custodial and fiduciary activities, which means there is an objective ceiling on profitability. From on-chain fund flow perspectives, the real incremental growth should come from institutional-level custody demands and the integration of DeFi 2.0, rather than token price speculation.

The conditional approval still requires 6-12 months to meet compliance conditions before final implementation. During this period, policy variables and systemic risks need to be monitored. This is more a signal of the regulatory framework gradually improving, which has positive implications for long-term industry integration. However, in the short term, avoid rushing with the pace. The key is to observe genuine fund inflow data and growth in institutional clients, rather than the licenses themselves.