USD Coin (USDC) stablecoin issuer Circle is set to apply for a US cryptocurrency bank license. This was stated by the company’s president, Jeremy Allaire, in an interview with Bloomberg.

In a conversation with the broadcast, the company’s CEO did not specify when exactly this would be implemented, only stating that it would be in the “near future”. He also stressed that Circle has “made significant progress” in this direction.

In August 2021, Allaire announced that Circle would become a “commercial, fully segregated cryptocurrency bank” regulated by risk management requirements. fedUS Department of the Treasury, OCC and FDIC.

According to the Circle president, the company has since been in talks with regulators. In particular, the OCC experts discussed a number of issues related to the management of the organization and the interoperability of blockchains and the assessment of the operational risks of certain decentralized networks.

If successful, the venture will make Circle the fourth company to be approved as a nationwide “digital asset bank”. In 2021, Anchorage, Protego Trust Bank, and Paxos received a conditional license.

On April 14, Circle also announced that Dante Disparte, former vice president of the Diem Association, has joined the company’s board of directors and the Center consortium with Coinbase.

congratulations @ddisparte for being appointed as @centre_io The newest board member to help achieve a more inclusive and connected blockchain-based financial ecosystem.https://t.co/IDoS3Vacin

— Circle (@circlepay) 13 April 2022

Recall that in April 2022, Circle announced a $400 funding round for me with participation from BlackRock and Fidelity.