Informed sources: Lead Bank has reduced its cooperation with some stablecoin payment companies in recent months

According to The Information, citing informed sources, Lead Bank has reduced its collaboration with certain stablecoin payment companies in recent months due to concerns about taking on excessive risks for clients, and has added restrictions on acceptable client source countries and industries. Other industry insiders have noted that due to stricter scrutiny of user identities and sources of funds, transaction settlement times and account opening times have also been extended.

The report states that Lead Bank is currently one of the few banks still willing to process dollar payments for stablecoin users. Most well-known stablecoin payment startups, such as Bridge under Stripe, BVNK, and Brale, rely on Lead Bank to provide services for users looking to exchange between fiat and cryptocurrency.