Circle and BitGo Plan Bank Push as Trump Backs Crypto
Crypto firms are making a fresh push to embed themselves in the U.S. banking system. Companies like Circle and BitGo are preparing to apply for banking licenses, aiming to strengthen ties with traditional finance after years of regulatory disconnect.
The shift follows former President Donald Trump’s return to the White House and his vow to turn the U.S. into a “bitcoin superpower.” Under his administration, regulators have eased restrictions that previously forced banks to seek approval before engaging with crypto companies. New federal guidance for banks is expected later this year.
People familiar with the matter say Circle and BitGo are eyeing full banking charters, which would let them operate more like traditional lenders,…
