USD Coin issuer Circle Internet Financial Ltd. is eyeing to apply for a crypto bank charter in the United States in the ‘“near future,” Chief Executive Jeremy Allaire said in a Bloomberg report.
Allaire said the firm plans to submit its application “hopefully in the near future” but declined to elaborate on the timetable for the plan. He first disclosed the intention in August.
The firm has undertaken discussions with the US Office of the Comptroller of the Currency regarding topics covering the firm’s banking goals. These cover interoperability between blockchains and the assessment of risks.
Should it be approved, Circle will be the fourth federally chartered cryptocurrency bank in the United States, following Anchorage Digital, Protego Trust Bank NA, and Paxos Trust Company.
Allaire earlier said US regulators have been doing a “lot of work” on the guidelines for the supervision and stablecoin issuers.