Stablecoin issuer Circle Internet narrows deadline to apply for U.S. crypto bank charter: Bloomberg

Circle Internet Financial, the issuer of the USD stablecoin (USDC-USD), is pushing forward with its existing plans to submit an application to operate as a U.S. crypto bank, CEO Jeremy Allaire told Bloomberg in an interview Wednesday. While regulators grapple to form an efficient regulatory framework for the decentralized space, Circle will apply "hopefully in the near future" to become a crypto lender, Allaire hinted to Bloomberg. If approved, the startup would be the fourth federally chartered crypto bank in the U.S., Bloomberg noted. Allaire added that his company and The U.S. Office of the Comptroller of the Currency, which facilitates bank charters, have been talking about Circle's digital asset-based banking prospects among other related topics such as the interoperability between blockchains, he told Bloomberg. Earlier in the week ended April 15, BlackRock and Fidelity invested in Circle's $400M funding round.