Circle executives deny seeking US banking license

According to Cointelegraph, Dante Disparte, Chief Strategy Officer of stablecoin issuer Circle, posted on social platform X denying rumors that the company is applying for a US Federal Banking license. Disparte has made it clear that Circle currently has no plans to obtain a federal banking license or acquire insured deposit taking institutions. In the future, they will choose to apply for non bank financial institution licenses such as federal or state trust licenses in accordance with US stablecoin regulatory requirements. This statement clarifies recent media reports about cryptocurrency companies such as Circle and BitGo considering applying for banking licenses. Disparte also calls on the legislative body to clarify the regulatory framework for stablecoins as soon as possible.