A growing number of leading crypto companies, including Circle, Coinbase, Bitgo and Paxos, is said to be preparing to request banking licenses in the United States.
According to sources quoted by The Wall Street JournalThe companies use a wave of pro-Crypto-sentiment in Washington to promote their long-term plans.
The report noted that each company investigates different types of licenses, depending on the business model. Some strive for National Trust of Industrial Bank Charters, so that they can operate in the same way as traditional banks. Others focus on more limited licenses aimed at Stablecoin issue and storage services.
This shift marks a dramatic reversal in recent years, when the relationship between the crypto sector and traditional banks was loaded with tension.
Financial supervisors such as the FDIC have warned bank institutions to avoid crypto-related entities during that period, which led to widespread de-banking throughout the industry. The Licenseush can close that gorge, making closer cooperation between crypto companies and the financial system possible.
Worldwide banks explore the American crypto market
In a parallel movement, large worldwide banks also prepare to expand their crypto services to the American market.
Wsj It noted that Deutsche Bank and Standard Chartered, who have built up both crypto-related operations abroad, are now investigating opportunities to enter the American landscape.
The institutions, which once resolved from crypto, are now showing renewed interest thanks to the growing clarity of the regulations. Sources say that the banks are evaluating ways to extend their crypto services to American customers.
The developments can be linked to the pro-Crypto attitude of the Trump government, which has led to a renewed crypto involvement in American legislators and supervisors.
President Trump’s policy has made it clear that digital assets should be part of the financial future of the country, and this direction has already had an impact on Capitol Hill.
As a result, financial supervisors such as the US Securities and Exchange Commission (SEC) are revised existing legal guidelines to attract more participants to the sector. These efforts are intended to eliminate ambiguity and to establish a more predictable legal framework that the industry would enable to thrive.
