This is a historic moment. CIRCLE has transformed from a technology company into an American financial infrastructure! The safety of holding USDC is equivalent to holding U.S. dollars. Institutions, pension funds, and interbank transactions all equate USDC to U.S. dollars. This is the first stablecoin bank in human history!!!
Here is a view I shared in the research group a few days ago. Earlier, there was a payment company that started from the overseas study group, Revolut, which after reaching a certain stage in its business development, obtained a banking license. Now Circle is in a similar position! Congratulations to Circle!
The Office of the Comptroller of the Currency (OCC): The OCC is the primary regulator of the U.S. 'federal banking system,' specifically monitoring 'nationally chartered banks.' But please note, the OCC does not oversee all banks; it only regulates 'nationally chartered banks,' usually indicated by names containing 'National / N.A.' These are licensed by the federal government and can operate across state lines nationwide! For example, some well-known names include JPMorgan Chase Bank, N.A.; Citibank, N.A.; Bank of America, N.A.; Wells Fargo Bank, N.A.; Goldman Sachs Bank USA, etc. Most of the core banking entities among the top ten commercial banks in the U.S. fall under the OCC.
The benefits for Circle are quite direct. In the past, Circle's US dollars and others needed to be deposited in banks under different regulatory systems. Now they can be deposited in their own bank, and they have taken on the role of custody themselves! Issuance and custody are all included in the self-operated system! It's all done! More old-money system companies will be able to cooperate with Circle, which also expands Circle's business opportunities to old money, K402, and other funding systems that can gradually enter. Continuing to be optimistic! Bottom buying!
Good morning! It's a new week again! Seeing the benefits is uplifting, and my mood is much better!
