Banks, fintech, and crypto are colliding in the new Trump era
The Trump 2.0 era is producing new crossovers in the financial world as some crypto firms consider applying for banking licenses and some banks consider issuing their own digital assets.
The convergence is picking up momentum as the new administration loosens restrictions on both crypto operations and traditional banking giants.
The latest evidence of this mashup is that crypto upstarts Circle, BitGo, Coinbase Global (COIN), and Paxos are all either considering or planning to seek a US bank license in some form, according to a report in the Wall Street Journal.
“This is something Coinbase is actively considering but has not made any formal decisions yet,” a Coinbase spokesperson told Yahoo Finance.
