Coinbase and Circle Lead Crypto Charge for US Banking Licenses Amid Regulatory Shift

In a significant development for the cryptocurrency industry, major players like Coinbase, Circle, BitGo, and Paxos are preparing to apply for banking licenses in the United States. This move signals a potential thaw in the historically tense relationship between the crypto sector and traditional financial regulators. The companies are exploring various license types—such as national trust charters, industrial bank charters, and specialized stablecoin-focused licenses—tailored to their distinct business models. The trend reflects growing pro-crypto sentiment in Washington and could pave the way for greater institutional integration of digital assets.

Crypto Giants Circle and Coinbase Eye US Banking Licenses

Circle and Coinbase, along with BitGo and Paxos, are preparing to apply for banking licenses in the US, leveraging pro-crypto sentiment in Washington. Each company is exploring different types of licenses depending on its business model, such as national trust or industrial bank charters, or more limited licenses focused on stablecoin issuance and custody services. This marks a reversal from past tensions between the crypto sector and traditional banks.

Coinbase-Backed Zora to Airdrop ZORA Token

Zora, an onchain social media platform, will airdrop its ZORA token on April 23. The airdrop follows viral traction gained after promotion by the Base network team. Snapshots will cover activity from January 1, 2020, to April 20, 2025. Coinbase-backed Zora allows the creation of ’content coins’ representing tradable forms of pictures or word phrases.