Circle's Chief Strategy Officer denies rumors of applying for a U.S. federal banking license.

Gate news bot message, Circle's Chief Strategy Officer Dante Disparte clarified that Circle is not seeking a federal banking license in the United States and has no intention of becoming a bank or an insured deposit institution.

Disparte stated that Circle will comply with future U.S. regulatory requirements for payment stablecoins and is considering applying for federal or state trust licenses and other non-bank licenses. At the same time, he urged Congress to expedite the bipartisan-supported stablecoin legislation to promote innovation, financial stability, and consumer safety in the U.S.

Source: Wu Says