US EditionCircle’s Bank Bid Could Be The Biggest Crypto Story Of The Year - Circle Internet Group (NYSE:CRCL)
- On July 1, 2025, Circle filed an application with the OCC to establish First National Digital Currency Bank, N.A., aiming to manage USDC reserves and provide custody services.
- Following Circle's June 5 IPO and the June 17 passage of the GENIUS Act, the bank application aims to align with emerging stablecoin regulations.
- Circle CEO Jeremy Allaire called the application a “significant milestone,” stating the new bank would manage USDC reserves and provide digital asset custody for institutions.
- Circle's stock rose, positioning USDC as a leading compliant stablecoin amid regulatory tightening.
- More broadly, if approved, Circle would join Anchorage Digital as one of only two federally chartered crypto firms, boosting stablecoin infrastructure and institutional adoption.
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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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