Circle plans to apply for US Bank Charter soon, lauds the OCC for cooperation

Circle Internet Financial Limited has said it is looking to apply for a U.S. bank charter soon, according to a Bloomberg News report.
The crypto payments company — the issuer of the USDC stablecoin — first talked about a bank charter in 2021 but has yet to file an application with the Office of the Comptroller of the Currency.
Circle’s banking dreams
Circle CEO Jeremy Allaire revealed that the company is in discussions with regulators over a bank charter and is “making good progress” in that direction.
While many in the crypto community would welcome Circle’s ambition, regulators might not outrightly approve such applications due to the nature and level of risks attached to the crypto industry.
However, Circle seems unfazed by the regulatory issues that may arise from its application; instead, Allaire believes the firm cordial relationship with the regulators will count in its favor.
Allaire said:
“They’ve been doing a lot of work laying the groundwork for how they’re

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