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With regulations becoming clearer and the number of state banks rumoured to grow, it appears that many of the US financial sector are aware of the future, including stablehouses. However, compared to these wealthy and tech-savvy transport, local banks and credit unions, where a significant proportion of Americans bank, is almost certain to lag behind this trend.
To help narrow this gap, Beam and Braid are partnering to provide Stablecoin infrastructure to US community banks and credit unions. I'm learning LightSpeed exclusively.
The program will open at seven partner banks in the Northeast and Midwest of the United States, Dan Mottice, founder and CEO of Beam, told me. At the basic level, Braid offers a set of APIs that allow small banks to modernize their product line, including real-time payments and new card networking capabilities, while Beam offers Stablecoin-specific infrastructure.
In exchange for these capabilities, banks will pay license fees and transaction fees at Stablecoin Flows, a representative from Beam said.
Mottice, previously a product lead for Visa's Crypto Arm, founded Beam in 2022. Under the previous SEC system, Stablecoin Company primarily operated outside of the United States.
When the crypto-friendly Trump administration took office, Mottis and the company began to try to preempt new US-based market opportunities, Mottis told me. One segment that came to mind was Community Banks. Many of them feel like they missed the 2010s fintech wave and may be keen to become an early adopter of stubcoin's new financial innovation. This is especially important as these bank depository institutions are ageing, as Sthey faces the task of courting younger and more online customers.
