21 Banks Issuing Stablecoins Reshapes Stablecoin Regulation - OneSafe — 2026-09-04

## Short Segments South Korea is set to tokenize all types of securities in a phased approach starting in 2027. Meanwhile, OpenReserve, backed by Andreessen Horowitz, has secured preliminary approval for a national bank charter. And crypto firms are urging the SEC to expedite ETF reviews and allow confidential draft filings. Later, we'll dive into how 21 banks issuing stablecoins are reshaping stablecoin regulation. South Korea to tokenize all securities in three stages from 2027. South Korea is embarking on an ambitious plan to tokenize its securities market, starting in 2027. The initiative will unfold in three stages, beginning with institutional products and expanding to include private money market funds, bonds, and unlisted shares. This move is part of a broader strategy to enable onchain settlement using stablecoins, as outlined in recent amendments to the Electronic Securities Act and Capital Markets Act. For issuers and investors, this means a significant shift towards digital infrastructure, potentially increasing efficiency and transparency in the securities market. As South Korea advances its tokenization agenda, the global financial landscape may see ripple effects, influencing how other nations approach digital securities. OpenReserve secures preliminary OCC approval for a national bank charter. OpenReserve Holdings, backed by Andreessen Horowitz, has received preliminary approval from the Office of the Comptroller of the Currency for a national bank charter. This new bank aims to leverage blockchain technology for onchain settlement, marking a significant step in integrating traditional banking with digital assets. With a $25 million seed round already secured, OpenReserve plans to build a bank that operates on blockchain rails, offering a modern alternative to conventional banking systems. This development could pave the way for more blockchain-based financial services, potentially transforming how transactions are settled and recorded. As OpenReserve moves forward, the financial industry will be watching closely to see how this model performs in practice. Crypto firms urge SEC to speed ETF reviews and allow confidential draft filings. Crypto firms are pressing the U.S. Securities and Exchange Commission to accelerate its review process for exchange-traded funds and permit confidential draft filings. While some industry players, like Grayscale and 21Shares, advocate for faster approvals, others, including Jane Street and Charles Schwab, express concerns over reduced market scrutiny. The debate highlights a divide within the ETF industry, with differing opinions on the balance between innovation and regulatory oversight. For the SEC, this presents a challenge in managing the pace of innovation while ensuring adequate investor protection. The outcome of this debate could significantly impact the future landscape of crypto ETFs and their regulatory framework. ## Feature Story 21 banks issuing stablecoins are reshaping stablecoin regulation. In a landmark move, 21 major banks, including Bank of America, Citi, and Goldman Sachs, have announced plans to establish a company to issue a USD-denominated stablecoin by 2027. This consortium marks one of the largest coordinated efforts by traditional finance to enter the digital asset space. The initiative aims to create a stablecoin backed by the U.S. dollar, with future plans to expand into other G7 currencies, prioritizing the euro. This development is significant as it signals a shift in how stablecoins are perceived and regulated, with traditional banks now playing a central role in their issuance. The involvement of these financial giants could lead to increased regulatory scrutiny and potentially set new standards for stablecoin compliance and security. For businesses and consumers, this could mean more reliable and widely accepted stablecoin options, potentially enhancing cross-border transactions and digital payments. As the stablecoin landscape evolves, the actions of these banks will likely influence global regulatory approaches and the integration of digital currencies into mainstream finance. With the market launch targeted for the first half of 2027, stakeholders will be closely monitoring how this consortium navigates regulatory challenges and market dynamics.