Circle’s Bold Move: USDC Issuer Seeks U.S. National Trust Bank Status
Circle’s Application: Circle, issuer of USDC, has applied for a U.S. national trust bank charter to manage its stablecoin reserves and offer institutional custody services.
Regulatory Alignment: The move aligns with the proposed GENIUS Act, aiming to integrate stablecoins into the U.S. financial system under federal oversight.
Strategic Shift: Post-IPO at an $18 billion valuation, Circle aims to directly oversee USDC reserves,...
