Circle applies for US national banking license, plans to manage USDC reserves independently

Odaily News According to Reuters, stablecoin issuer Circle (CRCL) has applied for a U.S. national banking license. If approved, it will be able to manage USDC reserves independently and custody crypto assets on behalf of institutional clients. The entity will be called First National Digital Currency Bank, NA. This move follows Circle's successful IPO this month, marking its further integration into the traditional financial system. (The Block)