Circle's Chief Strategy Officer Clarifies: Company Has No Intention to Apply for a Banking License

Regarding the recent rumors that Circle and BitGo plan to apply for banking licenses shortly, Circle's Chief Strategy Officer Dante Disparte stated that Circle is not seeking to obtain a banking license and has no plans to become a bank. Dante Disparte emphasized that Circle's strategic focus is to drive global financial innovation through its stablecoin, USDC, rather than transforming into a traditional banking institution. He also pointed out that Circle is working with regulators to ensure its products and services comply with current regulations and is committed to promoting the use of stablecoins globally.