Stablecoin USDC Issuer Circle to Apply for U.S. Crypto Banking License

Circle Internet Financial, the second-largest stablecoin USDC issuer, said it is now close to applying to U.S. regulators to operate as a bank.

The company did not disclose when it would file the submission, saying only that it “hopes in the near future.”

If approved, Circle would become the fourth federally chartered crypto bank in the U.S., following Anchorage Digital, Protego Trust Bank NA, and Paxos Trust Company.

Circle has been in discussions with regulators such as the U.S. Office of the Comptroller of the Currency ( ), which oversees bank charters, after having the idea of ​​becoming a crypto bank last August. These include interoperability between blockchains and how to assess the operational risks of a particular blockchain.