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Circle applies to establish the first Digital Money trust bank in the United States.
According to Gate News bot, as reported by Reuters, stablecoin issuer Circle has submitted an application for a trust bank license to U.S. regulators. Circle plans to establish a national trust bank in the United States, named First National Digital Currency Bank, N.A. Once the application is approved, the bank will have reserve custody authority and will be able to provide encryption asset custody services for institutional clients.