According to a statement by Circle, a federal trust charter would also help give USDC compliance under the GENIUS Act stablecoin legislation, which recently passed the Senate.
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Stablecoin Giant Circle Wants to Be Its Own Bank, Applies for National Trust License
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Circle said that becoming a national trust bank would help give USD Coin (USDC) compliance under the GENIUS Act, legislation that passed the U.S. Senate in June 2025 to create new guardrails for dollar-backed stablecoins
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