The plan is in line with US regulators’ growing perception that stablecoins should be issued by banks.
Circle to Apply for Crypto Bank Charter Soon: CEO Jeremy Allaire
According to co-founder and CEO Jeremy Allaire, the company has been in talks with regulators on the issue since August 2021, when it first revealed plans to convert into a bank, a BloombergThe Circle management has been in talks with the US Office of the Comptroller of the Currency on a range of issues relating to its bank plans, including the interoperability of blockchains and how operational risks can be assessed in specific blockchains, Allaire told Bloomberg.
In addition to the funding, Circle and BlackRock also inked a strategic partnership where the two companies would explore applications for “USDC in capital markets.”
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