The approval adds to a growing list of crypto firms seeking federal banking licenses as the industry moves into the regulated financial system.
- Circle, issuer of the USDC stablecoin, has received final approval from the U.S. Office of the Comptroller of the Currency to establish a federally supervised national trust bank.
- Shares are higher by 14% in pre-market trading.
- The new entity, Circle National Trust, will initially provide fiduciary digital asset custody services for Circle and its affiliates, with potential expansion to select institutional clients such as banks and other regulated financial firms.
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Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters :
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Mizuho says Circle bank approval doesn't solve USDC growth, stablecoin competition risks
Bolivia weighs adding Tether's USDT to its national payments system
SBI Holdings' blockchain initiative pivots to Solana for tokenization, stablecoin issuance
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