Circle is trying to become a licensed bank

Circle is that crypto exchange that went through a midlife crisis and kept changing it’s goal. Circle now owns poloniex, has received a massive investment from Bitmain and had split investments and money sending into two separate entities. This company that is ever growing and changing is now going through the process of being a fully licensed bank in the United States. The end goal is to be able to do settlements, transfer funds, hold funds and crypto with no middleman.

Circle isn’t just wanting standard banking license but also to be a securities exchange, this push shows us that they believe Bitcoin and other Cryptos will get the blessings from the SEC and be fully recognized securities. We have seen quite a few big moves from the larger exchanges and they are all being quite bullish on the long-term.

Another of the reasons Circle is going through federal regulations rather than the current money transferring rules others like Robinhood are doing, is that Federal regulations would only need one set of rules. If they do this you won’t see the long slow rollout the likes of Robinhood has been forced to do.

Circle is growing and showing no signs of stopping and they are willing to be a testing ground, this gives them a chance to be the first in this unique position and lots of rewards that could bring.

-Monarch

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About the Author: Monarch

The main poster and owner of Monarchcrypto.com , I am trying to use the site to share correct information in a sea of lies and manipulation that is the cryptoworld.