Circle executive denies seeking U.S. banking license

Odaily Planet Daily News Dante Disparte, chief strategy officer of stablecoin issuer Circle, posted on the social platform X, denying rumors that the company is applying for a U.S. federal banking license. Disparte made it clear that Circle currently has no plans to obtain a federal banking license or acquire an insured depository institution. In the future, it will choose to apply for non-bank financial institution licenses such as federal or state trust licenses in accordance with U.S. payment stablecoin regulatory requirements. The statement clarified recent media reports that "Circle and BitGo and other crypto companies are considering applying for banking licenses." Disparte also called on legislatures to clarify the regulatory framework for stablecoins as soon as possible. (Cointelegraph)