U.S. CFTC: National Trust Bank Can Serve as an Approved Issuer for Payment Stablecoins

Foresight News Report: The Market Participation Department of the U.S. Commodity Futures Trading Commission (CFTC) has republished CFTC Staff Letter No. 25-40, with a limited revision to the definition of “payment stablecoins.” The revised terms explicitly specify that National Trust Bank can serve as an authorized issuer of payment stablecoins.

After issuing CFTC Staff Letter No. 25-40 on December 8, 2025, the department realized that payment stablecoins meeting the definition in the letter could be issued by National Trust Bank. The department did not intend to exclude National Trust Bank from the list of issuers and has decided to republish CFTC Staff Letter No. 25-40 to expand the definition of “payment stablecoins.”