Circle has filed with the Securities and Exchange Commission to become a US Federally-chartered national commercial bank, according to Finextra. The move would see Circle become a full-reserve bank, operating under the supervision and risk management requirements of the Federal Reserve, US Treasury, OCC, and the FDIC.
Circle launched in 2013 as a peer to peer payment network and has subsequently gone on to launch a crypto exchange (Poloniex), a payments service (Circle Pay) and an investment app.
However, most of its focus is now on its USD Coin, which launched in 2018 as a way to convent US dollars into blockchain tokens and digital currency. The stablecoin has become the world’s fastest growing dollar digital currency, now standing at $27.5 billion in circulation.
In a blog on the plan to become a „national digital currency bank”, CEO Jeremy Allaire says he anticipates that USDC will grow into hundreds of billions of dollars in circulation, supporting trillions of dollars in economic activity and become widely used in financial services and internet commerce applications.
Writes Allaire: „We believe that full-reserve banking, built on digital currency technology, can lead to not just a radically more efficient, but also a safer, more resilient financial system.„
He adds: „Establishing national regulatory standards for dollar digital currencies is crucial to enabling the potential of digital currencies in the real economy, including standards for reserve management and composition.”
„Dupa ce oamenii creeaza un cont PayByFace si au adaugat cardul, selfi-ul si PIN-ul, si au avut un pic de curaj sa se duca sa incerce, daca au incercat o data plata prin recunoastere faciala nu mai folosesc altceva (n.r. ca modalitate de plata). 80% dintre ei numai asta folosesc. Le place la nebunie.”
Afla aici rezultatele in adoptia platii prin recunoastere faciala.