An increasing number of main crypto companies, including Circle, Coinbase, Bitgo and Paxos, are preparing to ask for bank licenses in the United States.
According to sources cited by The Wall Street JournalCompanies take advantage of a wave of pro-Crypto feelings in Washington to advance their long-term plans.
The report noted that each company explores different types of licenses according to its business model. Some continue the national trust or industrial banking charters, allowing them to operate in a similar way to traditional banks. Others target more limited licenses focused on stablecoin and guard emission services.
This change marks a spectacular reversal of recent years, when the relationship between the cryptography sector and traditional banks has been heavy with tension.
Financial regulators such as the FDIC warned banking institutions to avoid entities linked to crypto during this period, which led to a widespread surpassing in the industry. The license thrust could fill this gap, allowing more in -depth collaboration between cryptographic companies and the financial system.
World banks explore the American cryptography market
In a parallel decision, the major world banks are also preparing to extend their cryptography services on the American market.
Wsj Note that Deutsche Bank and Standard Charterd, both of which have built operations related to crypto abroad, are now exploring opportunities to enter the American landscape.
The institutions, which have once moved away from the crypto, now demonstrate a renewed interest thanks to an increasing regulatory clarity. Sources indicate that banks assess the means to extend their cryptography services to American customers.
Developments can be linked to the pro-Crypto position of the Trump administration, which has aroused a renewal of the commitment of cryptography with American legislators and regulators.
President Trump’s policies have clearly indicated that digital assets should be part of the country’s financial future, and this management has already had an impact on Capitol Hill.
Consequently, financial regulators such as Securities and Exchange Commission (SEC) of the United States examine existing regulatory directives to attract more participants in the sector. These efforts aim to eliminate ambiguity and establish a more foreseeable legal framework which would allow the industry to prosper.
