Circle Dismisses Rumors of Pursuing US Banking License

Chief Strategy Officer Dante Disparte stated on social media that the company has no intention of becoming a bank or any other insured depository institution.

Instead, Disparte emphasized that Circle remains focused on aligning itself with upcoming regulations for payment stablecoins. He added that the firm is prepared to register under a state or federal trust charter or operate through a non-bank license model if necessary.

Regulatory Climate Fuels Speculation

The clarification comes after reports circulated that Circle — alongside firms like Coinbase — was preparing to pursue banking licenses amid a shifting regulatory landscape under President Donald Trump’s administration. Recent moves by US regulators, including the Federal Reserve’s rollback of earlier crypto restrictions, have fueled expectations for broader industry adoption.

Jason Karsh, a business leader at Blocks, described the regulatory change as a key step toward integrating crypto into mainstream financial systems.

Despite the favorable environment, Circle reiterated that its strategy remains firmly rooted in working within future stablecoin-specific frameworks rather than transitioning into traditional banking.

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