Crypto Assets companies actively layout banking business in the United States

As the regulatory environment becomes increasingly friendly, several Crypto Assets companies are accelerating their entry into the traditional banking sector in the United States. They hope to seize this opportunity to further integrate into the mainstream financial system and expand their business scope.

Currently, several well-known encryption companies have applied for a national trust bank license, which will allow them to provide certain banking services. At the same time, a certain crypto asset exchange plans to launch bank card services next month. The joint CEO of the exchange stated that this is a "natural integration."

This trend reflects the desire of Crypto Assets companies to expand their business beyond digital asset services. Due to the current government's open attitude towards digital assets, the confidence of industry executives has significantly increased.

A New York company stated that obtaining a national bank trust license will be an "important step" in integrating digital assets into the broader financial system. Currently, only one Crypto Assets company holds a national bank license.

Industry experts point out that this is contrary to the initial理念 of many Crypto Assets companies. They once claimed that they did not need banks and legal regulation, but now they are seeking regulation.

The National Trust Bank can custody assets and process payments, but cannot provide loans or directly accept customer deposits. Obtaining this status will exempt the company from the need to obtain licenses separately from each state, and improve its access to the financial system.

Before discussing stablecoin legislation in Washington, Crypto Assets companies are accelerating their entry into the banking sector. Future legislation may bring stablecoins closer to the traditional financial system.

Stablecoins track the prices of currencies such as the US dollar and are increasingly becoming mainstream. Traders use them to trade between sovereign currencies and Crypto Assets, and they are also used for cross-border payments.

The proposed new legislation will strengthen the regulation of stablecoins and tie them more closely to U.S. Treasury bonds. Only regulated banks and certain non-bank groups with specific licenses will be able to issue stablecoins.

The CEO of a certain company stated that they have also applied for a master account with the Federal Reserve, which will enable them to hold stablecoin reserves directly at the central bank.

The connection between digital banks and Crypto Assets is becoming increasingly close. Financial technology companies are increasingly seeking to leverage the rapidly growing Crypto Assets to attract American customers.

A retail brokerage firm generated more than half of its trading revenue from Crypto Assets last year and plans to launch some banking services in the fall. The company's CEO stated that they hope to meet all of their clients' financial needs, including tax, estate planning, and fund transfer.

Some international emerging banks are also actively laying out their encryption business in the US market. At the same time, large banks, including Bank of America, are considering issuing their own stablecoins once regulations are clarified.

Industry experts believe that the current government has indicated it will handle licensing applications with a more open attitude, which is different from previous administrations.

However, not all cryptocurrency companies venturing into traditional consumer banking believe they need to apply for a banking license. A certain crypto exchange is launching a new application without applying for a license or primary trust. The company's executives stated that they do not want to become a bank that offers mortgages, but only wish to collaborate with partners who can provide the best services.