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Circle’s Bank Bid Could Be The Biggest Crypto Story Of The Year - Circle Internet Group (NYSE:CRCL)
- On June 30, Circle Internet Group applied for a U.S. OCC trust bank charter to establish First National Digital Currency Bank, N.A., aiming to manage USDC reserves and offer custody services.
- Following its June 5 IPO, Circle's valuation exceeded $18 billion, motivating its application for a national trust bank charter to enhance regulatory compliance and stablecoin infrastructure.
- Circle's application shows the proposed bank's function to manage USDC reserves and offer custody services, with OCC oversight for digital assets like tokenized stocks and bonds.
- CRCL shares rose 2.20% to $185.28 amid investor optimism following the OCC application and Senate passage of the GENIUS Act, signaling regulatory approval hopes.
- If approved, Circle's application could lead to a decision within 120 days, making it one of only two crypto firms with a national trust bank license alongside Anchorage Digital.
63 Articles
63 Articles
For the past year, the cryptic world has been living in a constant euphoria. The listed funds (ETF), Donald Trump’s return to the White House, the rise of bitcoin... now the new protagonists are the stables, a market in peaks and constantly expanding, which brings the distant ecosystem of digital assets closer to traditional finance. Circle is the symbol of this fever: the issuer of the second most important stable currency on the market —USDC —…
Circle’s Bank Bid Could Be The Biggest Crypto Story Of The Year - Circle Internet Group (NYSE:CRCL)
Circle Internet Group Holdings, Inc. (NASDAQ:CRCL) shares are moving higher Tuesday after the company applied for a national bank charter in a move that could have significant upside for the stock. Some of the benefits for Circle would include alignment with new federal regulatory requirements and oversight, strengthened infrastructure supporting its USDC (CRYPTO: USDC) stablecoin. Direct Federal Oversight and Regulatory Alignment If the appli…
Why stablecoin issuer Circle wants to be a bank - Overpasses For America
report this development. · REUTERS / Reuters Story Continues David Hollerith is a senior reporter for Yahoo Finance covering banking, crypto, and other areas in finance. His email is david.hollerith at yahoofinance.com. Click here for in-depth analysis of the latest stock market news and events moving stock prices Read the latest financial and business news from Yahoo Finance Source link
Circle Seeks U.S. Banking License to Directly Custody Billions in USDC Reserves
USDC issuer Circle has applied to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank license, as per a report from Reuters. If approved, Circle will establish a new federally regulated entity called First National Digital Currency Bank. Currently, Anchorage Digital is the only other digital asset firm with a national trust bank charter in the U.S. The trust bank license would allow Circle to directly manage and …
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