Cobo Observation: What does Circle's application for a US trust banking license mean? 》The biggest direct change is the control over USDC reserves. After the bank license is approved, Circle will be granted the qualification to directly manage, invest in, and manage USDC reserve assets, shifting from indirectly sharing floating interest income in the past to independent operation of reserve asset portfolios; If Circle is granted a license, it will be eligible to open an account with the Federal Reserve and directly embed it into the core financial clearing network in the United States. For the first time, it will have the full process compliance capability from "fiat injection" to "on chain deployment", and build a complete issuance custody clearing settlement loop; Although Circle undertakes issuance and on chain circulation in the front-end, it still relies on licensed financial institutions for fund custody and clearing. Read the full article: http://(wubleck123. com)/index. php? m=content&c=index&a=show&catid=47&id=45085