Circle has filed for a national trust bank charter to manage its USDC reserves, following its successful IPO which valued the company at approximately 44 billion USD. The proposed First National Digital Currency Bank, N.A. Would focus on tokenized assets and not handle cash deposits.
This development coincides with the advancement of stablecoin regulation legislation by Congress, which is expected to be signed into law by President Trump, enforcing monthly reserve disclosures and solid backing for stablecoins. Major brokerages are bullish on Circle stock.
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