Circle wants to become his own bank

The stable circle token transmitter has just revealed its new ambitions for the future. And not least since Circle hopes to become its own bank today. He has just applied to the United States Office of the Comptroller of the Currency (OCC) for a National Trust Bank Charter.

FACTS

• Circle has just completed an official application for a bank license the Office of the Counterroller of the Currency (OCC).

• The latter would allow it to become a custodian for its own reserves in a secure manner consistent with the US federal framework. Circle could also offer digital asset retention for institutional clients.

• The name of this new bank is already proposed: First National Digital Currency Bank.

• Circle would also continue to operate its historical services (USDC issue and associated services) in the cryptoactive and stablecoins market, but could not accept deposits or provide credit.

ISSUES

• Compliance This type of banking license, issued at the federal level, would allow Circle to operate across the United States with a robust regulatory framework specifically designed for cryptoactive and innovative payment infrastructure activities. This approval would also enable Circle to strengthen the USDC infrastructure and meet the requirements of the GENIUS Act.

• Reassurance : Circle's goal is always and above all to participate in the democratization of cryptoactives. This new demand must enable it to build confidence around USDC through enhanced regulation.

PERSPECTIVE

• In 2024, Circle is become the first global issuer of stablecoins to comply with the historical EU regulatory framework for cryptoactive markets (MiCA). Today, he continues his unbridled race to comply with international regulations, and to maintain his status as a pioneer and market leader.

• This ambition is all the greater as the cryptoactive and stablecoins market is normalizing today. Revolut would be preparing to launch its own stablecoin while Coinbase comes to obtain its MiCA license or that Kraken has just start a payment service between individuals.

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