Circle Refutes Banking License Rumours, Focuses On Stablecoins

Dante Disparte, Circle’s Chief Strategy Officer, has clarified the company’s stance regarding banking licenses. Disparte explicitly stated that Circle has no plans to become a bank or any other insured depository institution. Instead, he emphasized Circle’s commitment to aligning with upcoming regulations for payment stablecoins. Disparte further revealed that Circle is prepared to register under a state or federal trust charter or operate through a non-bank license model if necessary. This clarification comes after speculation arose due to recent regulatory changes and increased industry anticipation for wider crypto adoption.