Deutsche Bank, Standard Chartered Reportedly Looking Into Expanding To US Crypto Market
A growing number of cryptocurrency companies are preparing to enter the U.S. banking system, propelled by a policy shift under President Donald Trump aimed at integrating digital assets into mainstream finance.
What Happened: Firms like Circle (CRYPTO: USDC) and BitGo are planning to apply for bank charters, The Wall Street Journal reported, quoting sources.
Coinbase (NASDAQ:COIN) and Paxos are also exploring regulatory approvals to operate with similar authority.
These developments follow the Trump administration’s commitment to establishing the U.S. as a global leader in digital assets, including through new legislation targeting stablecoin oversight.
Recent bills moving through Congress propose a regulatory framework for stablecoins, mandating that issuers secure banking licenses or charters.
These digital tokens, typically pegged to fiat currencies, are used as a bridge between volatile cryptocurrencies and traditional money.
Some crypto firms are aiming for national trust bank or industrial bank charters that are essentially licenses that would allow them to hold customer deposits or …
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