Circle Ambitious to Get US Trust Bank License, What’s the Impact?

Jakarta, Pintu News – Circle, a stablecoin issuer, has applied for a national trust bank license in the United States. The move comes after the company’s successful Initial Public Offering . With stablecoin regulations becoming more stringent, Circle is looking to strengthen its position in the digital finance industry.

Check out the news information here!

Circle applies for trust bank license

According to a report from Reuters, Circle plans to establish a new entity that will operate as a national trust bank. This application for a US trust bank license allows Circle to provide a range of custodial services.

If the license is approved by the Office of the Comptroller of the Currency (OCC), Circle will establish the First National Digital Currency Bank. Circle’s CEO, Jeremy Allaire, stated that the new entity will manage a portion of Circle’s USDC reserves, while the rest remains managed by a reputable financial institution.

The license will also allow Circle to offer custodial services for tokenized stocks and bonds, not for Bitcoin or Ethereum . Currently, only Anchorage Digital has a national trust bank license among cryptocurrency-based companies.

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The Changing Stablecoin Regulatory Landscape

Circle’s application comes amidst Congressional efforts to implement a national stablecoin regulatory framework. After being approved by the Senate, the GENIUS Act bill is now being discussed in the House, with some members proposing that it be combined with the CLARITY Act bill.

This legislative process in the House of Representatives is an opportunity for Circle to capitalize on the upcoming changes. Circle’s CEO, Jeremy Allaire, stated that the IPO is the first step to taking a leading position, while the trust bank license application will further strengthen their position.

Circle has already begun to reap the benefits of this proactive regulatory move. Sam Altman’s World Chain uses USDC for payments, and Shopify has integrated the stablecoin as Circle moves closer to dominating Tether .

Read also: Metaplanet becomes the new king of Bitcoin, surpassing Tesla and Galaxy Digital?

Strategic Benefits of a Trust Bank License

With a trust bank license, Circle will not only increase trust and security for users and investors, but will also expand its range of services.

The custodial services to be offered by Circle will include tokenized stocks and bonds, providing new opportunities for investors to engage in digital financial markets in a more secure and organized manner.

Successfully securing this license will also strengthen Circle’s position as a leader in the stablecoin industry, especially in the face of competition from Tether (USDT). With strong regulatory backing, Circle can more easily adapt and evolve according to changing policies and market demands.

Conclusion

Circle’s move to secure a trust bank license marks a new era in stablecoin management and regulation. By anticipating regulatory changes and improving custodial services, Circle is not only strengthening its position in the market, but also making an important contribution to stability and trust in the cryptocurrency ecosystem.

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Reference

• Coingape. Circle Moves to Secure US Trust Bank License. Accessed July 1, 2025
• Featured Image: Forkast News