Reported about 8 hours ago
Circle, the stablecoin issuer, has applied for a national trust bank charter to establish First National Digital Currency Bank, N.A., allowing it to manage stablecoin reserve assets. This move aims to enhance its competitive edge and comply with upcoming U.S. stablecoin regulations. While stablecoins provide stability and could revolutionize cross-border payments, Circle's charter would not permit it to accept cash deposits or issue loans. As the market evolves, analysts expect significant growth in the stablecoin sector.
Source: YAHOO