Circle applies for a US Trust Bank license and plans to establish a national trust bank in the United States

According to Foresight News, stablecoin issuer Circle applied for a U.S. trust bank license and plans to set up a national trust bank in the United States, the entity will be named First National Digital Currency Bank, N.A., according to Reuters. If the application is approved, it can be used as the custodian of its own reserve and custodian of crypto assets on behalf of the institutional clients.

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