$43 billion stablecoin giant Circle to become a bank? 😳🏦; Coinbase to transform US crypto trading with regulated perpetual futures 🤑📈

FinTech is Eating the World, 2 July

Hey Everyone,

Good morning & happy Wednesday! Today’s issue is all about stables & digital assets as we’re looking into stablecoin giant Circle, which is aiming to become a bank (what it’s all about, why it strategically makes a ton of sense & what to expect next + bonus deep dives into Circle & the ultimate list of stablecoin resources), and Coinbase that’s about to transform US crypto trading with regulated futures launch (what’s the play here & why it matters + bonus dives into Coinbase and its biggest competitor Robinhood that’s just rewritten the rules of investing). So let’s jump straight into the finnovative stuff 🌶️

$43 billion stablecoin giant Circle to become a bank? 😳🏦

The news 🗞️ Circle Internet Group, or just Circle $CRLC has just submitted an application to the U.S. Office of the Comptroller of the Currency to establish a national trust bank, marking a significant strategic move following the company's highly successful initial public offering earlier this month.

The proposed First National Digital Currency Bank, N.A. would position Circle as only the second cryptocurrency company to obtain such federal banking authorization, following Anchorage Digital Bank's approval in 2021.

Let’s take a closer look at this, understand why it matters & what’s at stake here, and what we can expect next.