Circle Files for National Trust Bank License in the U.S.
2025-06-30 22:14:26
Main Idea
Circle Internet Group Inc. plans to establish the First National Digital Currency Bank to manage its USDC reserves, pending approval from the OCC, which could enhance liquidity and regulatory clarity in the crypto market.
Key Points
1. Circle Internet Group Inc. intends to establish the First National Digital Currency Bank to manage its USDC reserves.
2. The plan is pending approval from the Office of the Comptroller of the Currency (OCC).
3. CEO Jeremy Allaire emphasized the move aligns with Circle's focus on governance and compliance.
4. If approved, the initiative could address liquidity challenges in the crypto market.
5. The current U.S. government under President Donald Trump has shown support for clear crypto regulations.
Description
The post Circle Files for National Trust Bank License in the U.S. appeared first on Coinpedia Fintech News Circle Internet Group Inc. (NYSE: CRCL), a top-tier stablecoin issuer, has applied for a national trust bank license in the United States with the Office of the Comptroller of the Currency (OCC). The behemoth stablecoin issuer intends to establish the First National Digital Currency Bank, which would manage its reserves in USDC. “Circle has long sought to seek the highest standards of trust...
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