The FDIC has established an application process for regulated entities seeking to issue payment stablecoins.

Odaily Planet Daily reports that the Federal Deposit Insurance Corporation (FDIC) has approved a proposed rule to establish a process for companies seeking to issue payment stablecoins. A 60-day public comment period has begun. This is reportedly the first formal rule proposal since the passage of the GENIUS Act, the "United States Stablecoin Innovation Act."