Circle: On the way to Becoming the Digital US National Bank!

Circle Internet Group, the issuer of the US dollar-pegged stablecoin USDC, has applied for a nationwide bank license as a National Trust Bank with the US banking regulator OCC. The new institution will operate under the name "First National Digital Currency Bank, N.A." and further strengthen Circle's role as an infrastructure provider for the digital dollar. The application follows a successful IPO in early June. Circle is thus aiming for federal regulation, which only a few digital financial service providers can currently boast. Trust architecture...