So, Circle has applied for a banking license, showing its intention to become a full reserve commercial bank.
They will not lend out customers' funds (like banks do) and all deposits will be backed by their own USDC stablcoin.
I am wondering whether this is a PR move or whether they actually believe they will be granted the license?
If they are granted the license, this will be a massive move towards stable coin legitimization.
What is your take on this move?
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