Circle is about to obtain a trust bank license in the United States.

Gate News bot news, on July 1st, stablecoin issuer Circle is applying for a U.S. trust bank license to create a new national trust bank entity. If approved, Circle will establish the first national digital currency bank, which can provide custody services, including the custody of tokenized stocks and bonds.

Circle CEO Jeremy Allaire stated that the new entity will hold part of the USDC reserves, while the remainder will still be kept with leading financial institutions. He emphasized that this is a continuation of the company's pursuit of high trust, transparency, and compliance standards.

This move comes after Circle's initial public offering, where its market value has surpassed USDC. At the same time, the U.S. Congress is pushing for a nationwide stablecoin regulatory framework, and the "GENIUS Act" has been submitted for consideration in the House of Representatives.