⚡️USA🇺🇸: Circle wants to become a national trust bank

⚡️USA🇺🇸: Circle wants to become a national trust bank

Stablecoin developer Circle has submitted an application to the Office of the Comptroller of the Currency (OCC) to create a new trust institution under the name First National Digital Currency Bank, NA.

▶️Currently, Circle’s reserves are stored at the New York bank BNY and managed by the US investment multinational BlackRock. If the application is approved, Circle will be able to act as the custodian of its own reserves and also store crypto assets (in the form of tokenized stocks and bonds) for its institutional clients.

▶️Overall, this would help expand the reach and strength of the US dollar, as well as strengthen the emerging regulatory framework. For this reason, the application is likely to be approved.

▶️Fact: At the end of June, the company’s shares rose by 4%, reaching $31 USD. This consolidates Circle as a leader in the stablecoin market, with a clear regulatory advantage.

#news #USA #crypto

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