⚡️🚨 NEW - Circle announces its intention to become its own bank by applying to the OCC for a national trust bank license.

This project aims to create the First National Digital Currency Bank, which would directly oversee the management of the $USDC's reserves (over $61 billion in circulation) under the supervision of the US banking authority.

This initiative is part of a drive to anticipate the future regulation of stablecoins in the United States, particularly following the passage of the GENIUS Act.

"Today, we announced an important and significant milestone in our journey towards building the Internet financial system with our formal application for an OCC National Trust Bank charter for the first National Digital Currency Bank."

- Jeremy Allaire, CEO of Circle