PANews reported on December 11th that, according to The Block, Loop Crypto announced on Tuesday that it will partner with Lead Bank to capitalize on the anticipated stablecoin boom. Loop Crypto co-founder and CEO Eleni Steinman stated in a blog post, "We are excited to join forces with Lead to expand our work in the stablecoin and cryptocurrency payments space, unlocking greater impact and reach for technologies that can make our financial system faster, more efficient, and more secure."

Lead Bank, a 97-year-old community bank headquartered in Kansas City, Missouri, has reportedly shifted its focus in recent years towards fintech and crypto companies. Earlier this year, Lead Bank raised $70 million in a Series B funding round with participation from a16z and others, bringing its valuation to $1.47 billion. Loop Crypto announced earlier this year that it had raised a total of $6 million, partly from a16z.