According to Reuters, stablecoin issuer Circle has applied for a U.S. trust bank charter and plans to establish a national trust bank in the United States, which will be named First National Digital Currency Bank, N.A. If the application is approved, it will be able to act as the custodian of its own reserves and hold crypto assets on behalf of institutional clients. [Foresight News]

Circle is applying for a US trust bank license and plans to establish a national trust bank in the United States.

Circle is applying for a US trust bank license and plans to establish a national trust bank in the United States.