North Carolina Introduces Bill to Let State Banks Offer Digital Asset Services
The NC Digital Asset and Stablecoin Act would allow state-chartered banks and credit unions to provide digital asset custody, staking (locking crypto to earn rewards), and transaction services.
Summary
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Terms & Concepts
Digital asset custody: A service in which a financial institution safeguards cryptocurrencies or tokenized assets on behalf of customers.
Staking: Locking eligible crypto assets in a blockchain network to help support operations and earn rewards.
Stablecoin: A digital token designed to maintain a stable value, often by being linked to a fiat currency such as the U.S. dollar.