Circle, the company behind the $USDC stablecoin announced on June 30 that it has applied for a national trust bank charter.
If approved by the US OCC , the so-called First National Digital Currency Bank is the latest confirmation of the shift to decentralized financial infrastructure for TradFi and banking.
With a blockchain banking revolution on the horizon, which altcoins could be poised to benefit?
Circle Builds on IPO with First National Digital Currency Bank
Circle’s trust banking license aspirations follow its landmark IPO that valued the company at approximately $18B.
If passed, the First National Digital Currency Bank, N.A. will allow Circle to custody its $USDC reserves and offer token asset custody services to institutional clients.
Circle’s USDC reserves, currently held and managed by BNY Mellon and BlackRock, would now benefit from in-house oversight, increasing credibility with institutional players.
Compliance with the license demands that it not cross into deposit-taking or lending. This could be subject to change, of course, as the regulatory environment in the US clarifies.
So far, meeting compliance standards has led Circle to prioritize seeking licenses:
- Receives first-ever NYFDS BitLicense in 2024
- Achieves full compliance with EU’s MiCA regulatory framework in 2025
- Granted in-principle approval from the regulatory authority of Abu Dhabi to provide money services in 2025
CEO Jeremy Allaire emphasized Circle’s commitment to building ‘an internet financial system that is transparent, efficient, and accessible.’
The timing of the move isn’t just about the IPO; it also aligns well with US regulatory currents, including the GENIUS stablecoin bill now advancing through Congress.
That bill mandates clear reserve structures and full transparency to help normalize stablecoin use within legacy financial institutions.
TradFi’s Shift from Dinosaur to Early-Adopter
TradFi is increasingly exploring blockchain as a remedy to its woes.
Aave founder Stani Kulechov highlighted the benefits blockchain brings to TradFi: unmatched global reach, instant access to digital financial products, and a global customer base.
That’s all in stark contrast to traditional finance’s piecemeal, jurisdiction-bound approach to financial products.
Hurdles remain, of course. Fragmented interoperability between tokens and blockchains hampers liquidity and cross-chain transactions. There are proposed solutions, though, such as Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which aims to knit together disparate blockchains as logically as the internet connects different networks.
Kulechov envisions a future where DeFi protocols like Aave serve as global financial utilities, unhindered by siloed systems.
Institutional Stablecoins vs Crypto-Native Alternatives
Reports that a banking consortium including JPMorgan, Bank of America, Citigroup, and Wells Fargo is considering issuing its own stablecoin overlook a salient point:
In order to beat crypto, TradFi will need to become crypto – embracing core principles of accountability and transparency.
TradFi will also have to overcome an increasingly strong first-mover advantage wielded by Circle and others. As Todd Ruoff, CEO of Autonomys, said, ‘the rules were written by crypto natives.’
Circle is covered by licenses in 46 US states, plus by New York BitLicense, along with a $USDC market cap hovering around $61B. That’s a big hurdle for any new TradFi/crypto banks to overcome.
While the banks plan their entry into blockchain, these three altcoins are poised to make big gains.
1. Best Wallet Token ($BEST) – Building a Better Web3 Wallet with the $BEST Token
The key to First National Digital Assets Bank could rest in your crypto wallet. That’s why you need the toughest crypto wallet around.
Best Wallet provides a simple, secure, and straightforward way to store and use crypto. With MPC and biometric security and the ability to create multiple wallets, you can buy, store, and swap crypto securely, all within a single, powerful Web3 wallet.
When you load it up with the native $BEST token, you get even more utility from your wallet, including:
- Lower transaction fees
- Higher staking rewards
- Earlier presale access
Select crypto presales are available directly within the Best Wallet app, making researching and purchasing the hottest crypto presales easier than ever.
Learn how to buy Best Wallet Token and see why our own price prediction sees $BEST moving from its current $0.025265 to a potential $0.62 by 2026.
Visit the presale page to buy or learn more.
2. Snorter Token ($SNORT) – Sniff Out and Snipe Hidden Solana Meme Coins for Max Gains
You want meme coins — the frenetic energy, crazy gains, and potential for wild swings that every degen craves.
But you won’t find those on your mainstream CEXs – at least, not very often. Most of the time, the best action comes from low-cap tokens trading underground on sites like Telegram. But how do you find them?
That’s where Snorter Bot and the $SNORT token come in.
What is Snorter? It’s the best way to hunt down the best Solana meme coins, with all the tools you need to trade with confidence. This includes:
- Trading alerts
- Automated sniping
- Rugpull protection
- Honeypot detection
- Stop/loss orders
- Copy trading
And with the $SNORT token you’ll get lower trading fees and better access to new tokens. It’s one of the reasons our $SNORT price prediction sees the token climbing to $0.94 from its current $0.0967, delivering 872% gains by the end of 2026.
Learn how to buy Snorter Token and visit the presale page.
3. World Liberty Financial ($USD1) – Trump’s Own Stablecoin, and a Door to More?
Donald Trump has gone big on crypto, both in his administration and personally. World Liberty Financial, his official crypto project, is one of his biggest moves.
There was a World Liberty Financial presale for its governance token, $WLFI, a few months ago, but the biggest offering from the project so far has been $USD1, a dollar-based stablecoin.
There’s no room for big gains with $USD1 itself, but the token could anchor a much more significant crypto ecosystem from a US president who already has a stablecoin and his own meme coin.
In the meantime, $WLFI recently attracted a $100M investment from the UAE as international investors see the potential benefits of Trump’s global crypto aspirations.
What Lies Ahead for Circle
Circle’s trust bank charter application is under regulatory review; approval would mark a significant milestone in bridging the TradFi and blockchain worlds.
With Circle’s bank charter bid, regulatory advances, DeFi’s global potential, and the rise of institutional stablecoins, all the elements are emerging for an intertwined financial ecosystem.
These three altcoins could be in line to benefit, but always do your own research. This isn’t financial advice.
