{"id":23226,"date":"2025-04-22T15:47:36","date_gmt":"2025-04-22T15:47:36","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=23226"},"modified":"2025-04-22T15:47:36","modified_gmt":"2025-04-22T15:47:36","slug":"circle-bitgo-coinbase-paxos-go-for-us-banking-licenses","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=23226","title":{"rendered":"Circle, BitGo, Coinbase, Paxos Go For US Banking Licenses"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">Major crypto companies, such as Circle, Coinbase, BitGo, and Paxos, are preparing to apply for banking licenses in the US.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to<\/span><a href=\"https:\/\/www.wsj.com\/finance\/currencies\/crypto-knocks-on-the-door-of-a-banking-world-that-shut-it-out-082b3968\" target=\"_blank\" rel=\"nofollow\"><span style=\"font-weight: 400\"> the Wall Street Journal report<\/span><\/a> dated 21 April 2025<span style=\"font-weight: 400\">, these crypto companies are ready to capitalise on the current US government\u2019s pro-crypto stance.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: <a href=\"https:\/\/twitter.com\/hashtag\/BITCOIN?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#BITCOIN<\/a> AND CRYPTO GIANTS COINBASE, CIRCLE, BITGO, AND PAXOS ARE ALL APPLYING FOR US BANKING LICENSES <\/p>\n<p>THIS IS NOT PRICED IN <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f680.png\" alt=\"\ud83d\ude80\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> <a href=\"https:\/\/t.co\/CiZdHNmZOc\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/CiZdHNmZOc<\/a><\/p>\n<p>\u2014 The Bitcoin Historian (@pete_rizzo_) <a href=\"https:\/\/twitter.com\/pete_rizzo_\/status\/1914266818757148770?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">April 21, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">The companies are currently pursuing various types of banking licenses. It mostly depends on their specific business models. While some are seeking national trust or industrial bank charters, which would allow them to operate with capabilities similar to traditional banking institutions, others are focusing on more specialized licenses that would primarily enable stablecoin issuance and custody services.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThis represents a natural evolution for the crypto industry,\u201d explains cryptocurrency analyst Sarah Johnson. \u201cAs these platforms mature and seek to serve a broader customer base, banking licenses provide the regulatory framework and customer protections needed to operate at scale within the existing financial ecosystem.\u201d<\/span><\/p>\n<p>So, who called this? Both Sygnum Bank CEO and Ripple President predicted that crypto companies would go for banking licenses sooner rather than later. They also predicted that US banks will eventually compete to offer crypto services.<\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-ai-crypto-coins\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Best AI Crypto Coins to Invest in 2025<\/span><\/a><\/strong><\/p>\n<h2 id=\"deputy-group-ceo-sygnum-bank-agrees-with-messari-ceo-says-there-is-no-one-to-be-afraid-of-anymore\"><b>Deputy Group CEO Sygnum Bank Says, <\/b><b>\u201cThere is no one to be afraid of anymore\u201d<\/b><\/h2>\n<p>Talking about recent regulatory changes that allow US banks to approach further for the crypto offerings, Thomas Eichenberger, CSO and deputy Group CEO of Sygnum Bank, said that he foresees fierce competition between US banks fighting for the crypto onboarding clients.<\/p>\n<p>Eichenberger said, \u201cI think there will be a continued phase of of uncertainty, also until the regulatory framework in the US has been established clearly.\u201d<\/p>\n<p>\u201cI think it\u2019s a matter of fact that US banks are preparing to be able to offer crypto custody and crypto spot trading services anytime soon,\u201d he added.<\/p>\n<p>Eichenberger expects most of the US banks, if not all, to want to tap into crypto very clearly.<\/p>\n<p>\u201cI don\u2019t expect only a shift from US banks wanting to to offer these services and enter this market, but also large international banks that are incorporated outside of the US but have a US business. I think some of them may have had their strategic plans in place to offer crypto-related services but have been afraid that at some point they will be gone after by any of the US regulatory authorities, so they held back. But now I think there is no one to be afraid of anymore, in terms of regulatory authorities worldwide. So I think many of the large international banks will launch this year,\u201d explained Eichenberger.<\/p>\n<p>Explore: <a href=\"https:\/\/99bitcoins.com\/news\/messari-ceo-eric-turner-thinks-q2-may-be-muted-but-q3-and-q4-will-be-exciting\/\">Messari CEO Eric Turner Thinks Q2 May Be Muted, But Q3 And Q4 Will Be Exciting! <\/a><\/p>\n<h2 id=\"game-on-in-the-us-says-ripple-president-discusses-progress-of-crypto-bills\"><strong>\u201cGame On In the US,\u201d Says Ripple President: Discusses Progress Of Crypto Bills<\/strong><\/h2>\n<p>Talking about regulatory clarity in the US this year, Ripple President Monica Long recently said, \u201cI think we are finding the right balance all over the world. I think that there\u2019s probably healthy tension there and and we kind of need to put some rules in place and put them into practice to see what wrinkles need to be ironed out.\u201d<\/p>\n<p>Commenting on the progress of crypto bills in the US, Long said, \u201cIn terms of crypto legislation, they seem to be furthest along. I know there\u2019s also crypto market infrastructure bills in progress. Those do seem to be farther along. Also in the US, I would say another change with this within this year really is the acceleration of ETFs. It\u2019s a big deal if the US, largest global economy, largest capital market, is a player on the field now.\u201d<\/p>\n<p>According to her, Ripple saw business acceleration happen almost overnight from the election \u201cwhere the engagement from banks in the US changed like a light switch flipped.\u201d<\/p>\n<p>\u201cI think the more banks, the more distribution,\u201d said Long. \u201cThe other big change is with SAB 121 going away. So this was the bulletin with the accounting rules that really restricted banks from holding crypto on their balance sheet. We certainly see much more interest in custody as well.\u201d<\/p>\n<p>\u201cSo, game on in the US,\u201d said Long confidently.<\/p>\n<p>Explore: <a href=\"https:\/\/99bitcoins.com\/guides\/ripple-president-quashes-ipo-rumours-at-paris-blockchain-week\/\">Ripple President Quashes IPO Rumours At Paris Blockchain Week<\/a><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<p><span style=\"font-weight: 400\">    <\/p>\n<ul class=\"nnbtc-key-takeaways__list\">\n        <\/ul>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <\/li>\n<p><\/span><span style=\"font-weight: 400\">The pursuit of banking licenses by crypto giants could effectively bridge the longstanding gap between digital asset businesses and the traditional financial system.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <\/li>\n<p><\/span><span style=\"font-weight: 400\">\u201cThis represents a natural evolution for the crypto industry,\u201d explains cryptocurrency analyst Sarah Johnson.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/span><\/p>\n<\/div>\n<p>    <\/span><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/circle-bitgo-coinbase-paxos-go-for-us-banking-licenses\/\">Circle, BitGo, Coinbase, Paxos Go For US Banking Licenses<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Major crypto companies, such as Circle, Coinbase, BitGo, and Paxos, are preparing to apply for banking licenses in the US. According to the Wall Street Journal report dated 21 April 2025, these crypto companies are ready to capitalise on the current US government\u2019s pro-crypto stance. JUST IN: #BITCOIN AND CRYPTO GIANTS COINBASE, CIRCLE, BITGO, AND [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-23226","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/23226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23226"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/23226\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}