Circle denies seeking U.S. federal bank charter

An executive at Circle has refuted reports claiming the company is pursuing a U.S. federal bank charter or looking to acquire an insured depository institution, according to Cointelegraph. Circle’s Chief Strategy Officer, Dante Disparte, clarified that the company may seek a federal or state trust charter or another non-bank license to comply with forthcoming stablecoin regulations. This comes after a Wall Street Journal report suggested that crypto firms, including Circle and BitGo, were exploring U.S. banking licenses to forge stronger connections with traditional finance.