Stablecoin USDC intends to obtain a US banking license

On Monday, Circle co-founder and CEO Jeremy Allaire announced his intention to becomea global bank of digital currencies to ensure smooth, instant and near-free payments.

Circle is the issuer of the mostthe fast-growing stablecoin USDC, now it confidently ranks second after USDT. The market capitalization of USDC is nearly $ 27.78 billion. USDC now accounts for 24.45% of the total stablecoin market, up from 8% a year earlier.

As the long-term positive impact of digital currency and blockchain infrastructure on the world is becoming more tangible.

Circle intends to become a national commercial bank with a reserve operating under the supervision and risk management requirements of the Federal Reserve, the US Treasury, the OCC and the FDIC, — Aller added.

Circle recently published a report thatshowed that 61% of its reserves are held in cash and cash equivalents. At the same time, US Treasury bonds, commercial paper, corporate bonds, and municipal bonds make up the rest of the reserve breakdown.

To become a bank, Circle will alsopublish information on the fundamental liquidity of the USDC and its liquidity coverage in accordance with Basel III (Basel III). The Basel Committee document requires depositors to be provided with liquidity at a 1: 1 ratio, even during infrequent periods of high stress.

In addition, as specificnational standards for the supervision of digital dollar currencies, the company will actively work with federal regulators to commercialize the new dollar digital currency standards.

Circle announced last month a plan to becomea publicly traded company through a specialized targeted mergers and acquisitions company (SPAC). The cost of the resulting education is expected to be about $ 4.5 billion.

In the United States, meanwhile, talk continues aboutthe need to strengthen regulation of stablecoins. In particular, the chairman of the governing council of the FRS Jerome Powell and the minister of finance Janet Yellen made the corresponding remarks.

Circle itself explains the need for bankinglicenses in a desire to avoid risks, including reducing their dependence on third-party payment systems. Paxos, which also issues stablecoins in the United States, has previously received preliminary approval for a banking and trust license from the Office of the Comptroller of the Currency.

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

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Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Bybit	https://bybit.com	7.5
3	OKEx	https://okex.com	7.1
4	Exmo	https://exmo.me	6.9
5	Huobi	https://huobi.com	6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• Platform Features– availability of additional features — futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

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