Column Bank is entering the stablecoin game.
Column has officially released a series of core product solutions aimed at providing a better API banking experience, including sending and accepting funds 24/7 via stablecoins.
Both USDC and USDT are expected to be used over top networks Solana, Ethereum, and others.
Column’s additional products launched at the same time signal a more complete service offering.
It added a new options for its customers with multicurrency support, card issuance, and global banking.
The U.S. based bank handles nearly $5T in annual transaction volumes with over $100B in overseas payments.
It is adopting stablecoins to not fall behind other banking and fintech initiatives tapping into the technology.
Stablecoin Banking Full Speed Ahead
Stablecoin banking is becoming a major sector.
Both for fintech actors offering stablecoin infrastructure and transfers, as well as banks themselves (regional, national, or global) participating in efforts to make better use of tokenized money.
Interestingly, Column Bank went with stablecoins over tokenized deposits for their customers. For now.
This means that they are able to service their core market (developers, software businesses) that already uses stablecoins to fund internal flows or wishes to offer them to their customers.
Per their blog, this feature can be integrated into existing payment rails, such as Swift, ACH, Fedwire, and RTP.
However, Column is not the only new wave of banks going after a stablecoin-based banking solution.
Actors such as Augustus and Erebor are also realizing the potential.
Recently, Augustus raised its Series B and received OCC conditional approval for a banking license, while Erebor’s stablecoin banking may seek more capital.
