BANKING LICENSE Struggle Escalates! Ripple, Circle and 5 other crypto giants are close to becoming "crypto banks"🏦

Latest news, Ripple, Circle (the issuer of USDC), BitGo, and four other top crypto companies have made key progress in applying for special purpose banking licenses in the U.S. This means they may gain regulatory status and operational permissions similar to banks. For traders, this is not just company news; it is a crucial step for the industry to gain recognition from the mainstream financial system. Enhanced compliance will attract more traditional capital and may significantly lower the trust and usage thresholds for institutional users.

💡 Core Insight: This marks the transition of the crypto industry from "wild growth" to "compliance integration." If leaders like Ripple and Circle succeed in obtaining approval, their core businesses (cross-border payments, stablecoins) will have a very deep moat, and the long-term fundamentals of related ecosystem assets will receive significant benefits. Clarification of regulations is the cornerstone of the next round of institutional bull markets.

#crypto bank #Ripple #USDC #BitGo #compliance #blockchain finance #Binance Square