Circle Rejects U.S. Bank Charter Bid, Focusing on Regulatory Alignment

In a move to clarify its regulatory intentions, Circle has denied seeking a U.S. federal bank charter. The company emphasizes a focus on aligning with forthcoming regulations for payment stablecoins, potentially through federal or state trust charters, rather than pursuing a traditional banking license. This decision is intended to address market speculation regarding stablecoin plans and prevent potential confusion surrounding its operations.