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Circle Seeks U.S. Trust Bank Charter to Bolster USDC Reserve Security
Circle Seeks U.S. Trust Bank Charter to Bolster USDC Reserve Security
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USDC News -
Circle Internet Group, the issuer of the USDC stablecoin, has submitted an application to the Office of the Comptroller of the Currency to establish a national trust bank. The proposed First National Digital Currency Bank WOULD manage USDC reserves, aligning with upcoming regulatory frameworks such as the GENIUS Act.
CEO Jeremy Allaire described the move as a strategic effort to create a transparent financial system for the digital era. "By pursuing a national trust charter, Circle is proactively enhancing our USDC infrastructure," he said. This initiative highlights increasing institutional efforts to integrate cryptocurrency with traditional finance.
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