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Circle and BitGo, among other stablecoin issuers, may need to obtain federal or state charters under two bills advancing in Congress that aim to create a regulatory framework for stablecoins, prompting firms to explore national trust and industrial bank licenses

Coinbase and Paxos are reportedly considering applying for US bank charters, according to the Wall Street Journal, highlighting a broader shift among major crypto firms toward regulatory alignment

BitGo, a crypto trust and custody firm, is pursuing a bank charter, according to the Wall Street Journal, to expand its regulatory positioning and support upcoming projects such as the Trump-backed USD1 stablecoin, for which it is expected to act as custodian

Circle, a major stablecoin issuer behind USD Coin (USDC), is seeking a banking charter, according to the Wall Street Journal, to comply with proposed US legislation requiring stablecoin providers to hold federal or state licenses

Circle and BitGo plan to apply for US bank charters reported by WSJ

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