According to ChainCatcher and Cointelegraph, Circle's Chief Strategy Officer and Global Head of Policy, Dante Disparte, denied rumors that the company is seeking a federal banking license.
Disparte stated on social media X that Circle has no intention of obtaining a federal banking license or acquiring an insured deposit institution. Instead, the company plans to comply with future regulatory requirements for payment stablecoins in the United States, which may require registering for a federal or state trust license or other non-bank licenses.
Previous reports suggested that multiple cryptocurrency companies, including Circle, BitGo, Coinbase, and Paxos, were considering applying for banking licenses. Of these, only Coinbase confirmed that it is considering applying for such licenses.
