Circle Rejects Interest in US Federal Bank Charter

Stablecoin issuer Circle has refuted reports suggesting it’s pursuing a US federal bank charter, according to statements from its chief strategy officer, Dante Disparte. Disparte clarified that Circle is not seeking to become a federally chartered bank or acquire a deposit-taking institution. Instead, the company intends to align with future regulatory requirements for payment stablecoins, which could involve registering under a federal or state trust charter or obtaining a nonbank license.