USDC’s Circle Announces Plans To Become A Full Reserve Commercial Bank

After announcing its plans to go public, Circle, the co-creator of the USDC stablecoin, has made another significant announcement, outlining its intention to become a full-reserve national commercial bank.  If the proposal is approved, the proposed digital currency bank will be operating directly under the supervision of the U.S. Treasury, The Federal Reserve, The Office of The Comptroller of the Currency, and the Federal Deposit Insurance Corporation.