Circle’s Bank Charter Application Game Changer in the Banking Industry

Circle Internet Group, the issuer of the USDC stablecoin, turned in its bank charter application to the Office of the Comptroller of the Currency yesterday, looking to establish a national trust bank.

The mission for Circle is to bring stablecoins into the established financial markets.

The move sent the stock even higher yesterday after great gains the previous week. If approved, Circle would roll out the First National Currency Bank, N.A..

The move would also allow Circle to offer institutional clients custody services.

Circle is Wall Street’s darling this much pushing close to a 500% increase, helped by the passage of the Genius Act.