FINTECH IN FOCUS: STABLECOIN COMPETITION, NEW CRYPTO BANKS, AND X MONEY

Summary from the TLDR Fintech newsletter

The Milken Institute highlights intensifying competition across stablecoins and digital banking, including the launch of consortium-backed Open USD, a wave of OCC trust bank charters, and growing interest in tokenized deposits and yield-bearing digital dollars. The newsletter also examines X Money's US rollout with Cross River Bank, as Elon Musk pushes X toward an “everything app” while regulators scrutinize the consumer protection and financial stability implications.