According to Odaily, Circle and BitGo are actively seeking to integrate into the U.S. banking system by applying for banking licenses, aiming to strengthen their ties with traditional finance. Following U.S. President Donald Trump's return to the White House, previous restrictions requiring banks to obtain approval before collaborating with cryptocurrency companies have been relaxed, opening new opportunities for crypto firms.
Circle and BitGo are pursuing full banking charters, intending to offer deposit and loan services similar to traditional banks. Meanwhile, established banks like Bank of America and U.S. Bancorp are reconsidering their involvement in the cryptocurrency sector.
Stablecoins remain central to the crypto industry, with Tether and Circle's USD Coin continuing to dominate the market.
