Crypto Companies Seek Bank Licenses to Seamlessly Integrate with Finance

Several major cryptocurrency firms are taking bold steps towards mainstream adoption by applying for banking licenses or similar approvals. According to a report from the Wall Street Journal, companies like Circle and BitGo have submitted applications for federal bank approvals, aiming to offer deposit services and facilitate loans in traditional banking settings. Coinbase and Paxos are also exploring similar paths. This shift is driven by a growing sense of optimism regarding regulatory environments since the Trump administration.