2026 Stablecoin Regulation and Crypto Banking Progress: Revolut and OpenReserve Receive OCC Preliminary Approval, Zcash Price Hits Record High

This article was compiled by the OKX Radar editorial team. Information is current as of September 4, 2026 and does not constitute investment advice.

On September 4, 2026, the U.S. Office of the Comptroller of the Currency (OCC) granted preliminary approval for national bank applications from Revolut and OpenReserve. Revolut plans to offer digital asset custody, stablecoin cross-border transfers, and issue a branded stablecoin. This development may affect stablecoin custody and fiat on/off-ramp compliance pathways.

On the same day, Zcash (ZEC) reached $1,188.42, up 11.54% over 24 hours; the stablecoin market also saw signals such as Tether's profit exceeding $13 billion and Stripe's $1.1 billion acquisition of Bridge. OKX users should monitor changes in stablecoin custody and fiat on/off-ramp compliance, as well as volatility and compliance risks in privacy coin trading.

OCC Preliminary Approval: National Bank Plans for Revolut and OpenReserve

Legal Meaning of the OCC Preliminary Approval

According to Cointelegraph on September 4, 2026, the OCC granted preliminary approval for Revolut and OpenReserve to apply for national banks in Connecticut and Utah, respectively. Preliminary approval is not equivalent to a final license; subsequent capital, compliance, and operational conditions must still be met. Therefore, the related business may be delayed, subject to conditions, or terminated, and users should not treat preliminary approval as permission to formally begin banking operations.

Revolut's Digital Asset Custody and Branded Stablecoin Plans

Revolut plans to provide digital asset custody services, allow customers to use crypto assets including stablecoins for cross-border transfers, and issue a Revolut-branded stablecoin issued by a third party. This means new institutional service paths may emerge for stablecoin custody and cross-border transfers. However, OKX users should note that whether this plan will connect to the OKX platform or support relevant assets still depends on OKX official announcements.

OpenReserve's Banking Footprint in Utah

OpenReserve's application for a national bank in Utah signals that crypto-native institutions are entering the U.S. banking system. This development may affect infrastructure for stablecoin issuance, custody, and settlement. For OKX users, more compliant custody options may improve fiat deposit and withdrawal experiences, but it is necessary to distinguish the liability boundaries between assets on the platform and assets with external banks/custodians.

Stablecoin Market Signals: Profits, M&A, and Regulation Pending Verification

This section's key points:

• Tether: Reports show profits exceeding $13 billion; official reserve attestations need verification.
• Stripe: $1.1 billion acquisition of Bridge shows payment institutions investing in stablecoin settlement.
• Singapore: Specific rules on reserve yield regulation remain to be verified; refer to the latest MAS announcements.

The Scale and Verification Path for Tether's $13 Billion Profit

According to the stablecoin report released by RWA.xyz (May 28, 2025), Tether generated more than $13 billion in profit with fewer than 200 employees, reflecting the economies of scale in stablecoin reserve yields. Ordinary users who need to verify this can consult Tether's official reserve attestations or audit reports and note the data methodology and cutoff date. This data is historical information and cannot be directly extrapolated to current or future performance.

The Payment Integration Logic Behind Stripe's $1.1 Billion Acquisition of Bridge

The same report noted that Stripe acquired the stablecoin payment company Bridge for $1.1 billion, showing mainstream payment institutions' investment in stablecoin settlement. This transaction may drive more mature stablecoin payment infrastructure, but its direct impact on OKX users' use of stablecoin payments is limited. Any specific changes still need to be observed through subsequent announcements from OKX and payment institutions.

Singapore Stablecoin Reserve Yield Regulation: Information Boundaries

Singapore's stablecoin reserve yield regulation is a matter pending verification in the input materials, and this article does not pre-fill specific rules or ratios. Readers who wish to learn more should consult the latest announcements and official documents of the Monetary Authority of Singapore (MAS); you can search for "Monetary Authority of Singapore stablecoin reserve yield regulation" to find official pages. OKX users in Singapore or involving Singapore stablecoin assets are advised to rely on MAS and OKX official pages rather than second-hand summaries when making decisions.

Zcash Price Hits Record High: Data and Risk Notes

Data Interpretation: $1,188.42 and an 11.54% Gain

As of 16:24 UTC on September 4, 2026, according to Decrypt data, Zcash (ZEC) reached $1,188.42, up 11.54% over 24 hours. The price increase was accompanied by short liquidations (shorts rekt), meaning some short positions were forcibly closed, and short-term volatility may intensify. Users should not treat a single-day gain as a trend signal.

Regulatory Sensitivity of Privacy Coins and Short-Term Liquidation Risk

Privacy coins face risks of exchange delisting or compliance reviews in many jurisdictions. ZEC's record high does not mean privacy coin regulatory risk has decreased. OKX users who hold or trade Zcash should monitor OKX's latest status on relevant trading pairs, withdrawal limits, and KYC/AML requirements, and independently assess their own risk tolerance. This article does not provide price predictions or chase-the-rally advice.

OKX User Considerations

Regarding privacy coins, confirm whether OKX currently supports the relevant trading pairs, withdrawal limits, and regional restrictions. Users should distinguish assets on the platform from stablecoin assets with external banks/custodians to avoid confusing liability boundaries. This information is based solely on official OKX pages; the input materials did not provide specific details on OKX's current trading status for Zcash.

Practical Impact for OKX Users: Deposits/Withdrawals and Risk Segregation

Possible Impact of Stablecoin Custody and Cross-Border Transfers

If stablecoin custody and cross-border transfer services from institutions such as Revolut go live, they may provide users with more fiat deposit and withdrawal paths. However, which stablecoins are supported, which regions are covered, and what fees and limits apply still depend on OKX official announcements. Until confirmed, users should not assume that OKX will integrate any third-party custody or stablecoin transfer services.

Operational Red Lines for Managing Stablecoin and Privacy Coin Assets on OKX

Users should manage assets on the OKX platform separately from assets with external banks/custodians, and separately confirm the terms of service, custody responsibilities, and compliance requirements for each. When dealing with privacy coins such as Zcash, it is recommended to first check OKX Help Center guidance on deposit/withdrawal status, regional restrictions, and KYC/AML before deciding whether to trade or hold. Without confirmation from official pages, do not act based solely on news headlines.

Sources and Follow-Up Watchlist

Public sources used in this article include: Cointelegraph's September 4, 2026 report on the OCC preliminary approval for Revolut and OpenReserve; the RWA.xyz stablecoin report (May 28, 2025) on Tether's profit, Stripe's acquisition of Bridge, and practitioner insights; and Decrypt's September 4, 2026 data on Zcash price. All data has collection timestamps and should be updated at publication. Going forward, continue to monitor the OCC's official final decision, company statements from Revolut and OpenReserve, OKX official announcements, and the latest documents from the Monetary Authority of Singapore.

Frequently Asked Questions (FAQ)

Q1: Does the OCC preliminary approval mean that Revolut and OpenReserve can officially begin banking operations?

A: No. According to Cointelegraph's September 4, 2026 report, the OCC preliminary approval is only one step in the application process and is not equivalent to a final license; subsequent capital, compliance, and operational conditions must still be met. The related business may be delayed, subject to conditions, or terminated.

Q2: Will the Revolut-branded stablecoin be listed or tradable on OKX?

A: As of now, there is no OKX official announcement in the input materials about the listing of the Revolut-branded stablecoin. Users should treat it as an external project development and keep checking OKX official announcements or the Help Center for confirmation. Until confirmed, users should not assume that OKX will list or support this stablecoin.

Q3: Where does Tether's $13 billion profit come from, and how can ordinary users verify it?

A: The figure comes from the RWA.xyz stablecoin report (May 28, 2025), mainly reflecting the scale effect of stablecoin reserve yields. Ordinary users can verify Tether's official reserve attestations or audit reports and pay attention to the report's data methodology and cutoff date. It should not be directly equated with Tether's net profit or distributable profit.

Q4: After Zcash's price reached a record high, what risks should OKX users watch?

A: According to Decrypt's September 4, 2026 data, ZEC rose to $1,188.42, up 11.54% over 24 hours, but short-term volatility and short liquidation risks have increased; privacy coins may also face exchange delisting or compliance reviews. OKX users should check whether OKX currently supports Zcash trading pairs, withdrawal limits, and regional restrictions, and avoid chasing a rally based solely on a single-day gain.

Q5: What indirect impact does Stripe's acquisition of Bridge have on OKX users using stablecoin payments?

A: Stripe's $1.1 billion acquisition of Bridge (RWA.xyz report, May 28, 2025) shows that mainstream payment institutions are increasing investment in stablecoin settlement, which may gradually improve payment infrastructure; however, the direct impact on OKX users is limited. Whether it brings changes to deposits, withdrawals, or payment experiences still depends on OKX official announcements and subsequent updates from payment institutions.

Q6: How should Singapore's stablecoin reserve yield regulation currently be verified?

A: The input materials currently do not provide specific rules, so it is recommended to consult the latest announcements and official documents of the Monetary Authority of Singapore (MAS). OKX users should monitor MAS and OKX official pages and not make decisions based on second-hand summaries.

Q7: After the OCC preliminary approval, what conditions do Revolut and OpenReserve still need to meet?

A: They must meet capital, compliance, and operational conditions; the final license may be delayed, subject to conditions, or terminated. Users should rely on the OCC's official final decision and company statements.