The race to become banks for crypto companies – A signal for a mature market

In the context of the legal environment in the U.S. gradually becoming more open to cryptocurrencies, many major names in the crypto industry like #Circle , BitGo, Coinbase, and Paxos are proactively pursuing federal banking licenses or special licenses to issue stablecoins and provide legitimate financial services.

A signal for a mature market:

✅ Circle and #BitGo want to become federal banks, demonstrating their ambition to provide large-scale, sustainable financial services.

✅ Coinbase and #Paxos are also considering national trust licenses or industrial banking, paving the way for stablecoin issuance or regulated deposit holding.

✅ Each organization has its own strategy: some aim for lending services, while others only need the authority to issue stablecoins.

These strategic moves indicate that crypto companies are transitioning from "tech startups" to "real financial institutions," actively integrating into the traditional legal system rather than standing outside the game.

The future is taking shape:

The pursuit of banking licenses by crypto companies is a clear testament to the maturity and long-term development of the cryptocurrency market. As crypto institutions are officially recognized within the traditional financial system, users and investors will be better protected, and institutional capital will be more willing to enter the market.

The crypto market is always prone to volatility and is not suitable for every investor. Always be cautious and do thorough research before participating.