圈子，穩定銀行和加密銀行：瀏覽新的金融領域

Circle成為一家國家信託銀行的舉動，信號是一個重大轉變，在傳統金融和加密貨幣之間模糊，可能會重塑Stablecoins和Crypto Banking的未來。

Circle, Stablecoins, and Crypto Banks: Navigating the New Financial Frontier

圈子，穩定銀行和加密銀行：瀏覽新的金融領域

The world of crypto is constantly evolving, and the latest development is Circle's ambition to become a national trust bank. This move is more than just a headline; it signifies a potential paradigm shift in how stablecoins and crypto institutions operate within the broader financial system.

加密世界一直在不斷發展，最新的發展是Circle成為國家信託銀行的野心。這一舉動不僅僅是標題。它表明，穩定機構和加密機構在更廣泛的金融體系中的運作方式可能發生了潛在的範式轉變。

Circle's Bold Move: Challenging the Traditional Banking Model

Circle的大膽舉動：挑戰傳統銀行模式

Circle, the U.S.'s largest stablecoin company, is making waves with its application to become a federally regulated national trust bank. This isn't just about managing USDC reserves; it's about challenging the very definition of a 'crypto bank.' Circle plans to directly oversee its USDC reserves through federal banks and even offer custody services for institutions. This strategic move reflects a larger trend: the lines between traditional finance and the crypto world are blurring, and fast.

美國最大的Stablecoin公司Circle正在隨著其申請成為一個受聯邦監管的國家信託銀行的轟動。這不僅僅是管理USDC儲備金；這是關於挑戰“加密銀行”的定義。 Circle計劃通過聯邦銀行直接監督其USDC儲備，甚至為機構提供監護權服務。這一戰略舉動反映了一個更大的趨勢：傳統金融與加密貨幣世界之間的界限既模糊，又快。

Why a Trust Bank Charter Matters

為什麼信託銀行憲章很重要

Applying for a U.S. national trust bank license allows Circle to streamline compliance across the country, which reduces the headache of dealing with different state regulations. A national charter would let Circle operate under one unified regulatory framework, boosting the efficiency and scalability of its services. The proposed trust bank, First National Digital Currency Bank, N.A., aims to manage Circle's USDC reserves directly, a change from using current custodians. This move also enables Circle to offer custody services for tokenized stocks and bonds, aligning with its strategy to grow its position in the digital asset market.

申請美國國家信託銀行許可證允許Circle簡化全國的合規性，從而減少了處理不同州法規的頭痛。一份國家憲章將允許圈子在一個統一的監管框架下運作，從而提高其服務的效率和可擴展性。擬議的信託銀行NA旨在直接管理Circle的USDC儲備，這是使用當前的託管人的變化。此舉還使Circle能夠為令牌化股票和債券提供監護權服務，從而符合其在數字資產市場中的地位的策略。

The Regulatory Landscape: GENIUS Act and Beyond

監管景觀：天才法和超越

Circle’s proactive approach comes as the U.S. is increasingly looking to integrate virtual assets into the existing financial framework. The company is preparing for potential changes under the GENIUS Act, a proposed bill designed to introduce stricter oversight for dollar-backed stablecoins. CEO Jeremy Allaire emphasizes Circle's dedication to building neutral, robust infrastructure to support the U.S. dollar’s global role.

Circle的積極主動方法是因為美國越來越希望將虛擬資產整合到現有的財務框架中。該公司正在為《天才法案》（Genius Act）的潛在變化做準備，該法案旨在引入對美元支持的穩定股（Stablecoins）進行更嚴格的監督。首席執行官傑里米·阿萊爾（Jeremy Allaire）強調了Circle致力於建立中性，強大的基礎設施來支持美元的全球角色。

The End of 'Debanking'? A Potential Silver Lining

“撤銷”的結尾？潛在的銀線

The Federal Reserve's recent decision to remove 'reputational risk' from its examination framework for banks could positively affect crypto. This update aims to make bank assessments more transparent by focusing on concrete financial risks rather than subjective concerns. For years, crypto firms have faced difficulties in securing banking services due to perceived reputational risks, but this policy change might signal a turning point, potentially encouraging banks to re-evaluate partnerships with crypto businesses.

美聯儲最近決定從其銀行檢查框架中刪除“聲譽風險”的決定可能會對加密貨幣產生積極影響。此更新旨在通過專注於具體的財務風險而不是主觀問題來使銀行評估更加透明。多年來，由於聲譽風險，加密貨幣公司在確保銀行服務方面遇到困難，但是這種政策變化可能標誌著轉折點，可能鼓勵銀行與加密貨幣企業重新評估合作夥伴關係。

My Take: Circle's Vision and the Future of Crypto Banking

我的看法：Circle的願景和加密銀行的未來

Circle's pursuit of a national bank charter isn't just about compliance; it's a strategic move to legitimize and stabilize the crypto industry. Securing such a license could catalyze further institutional adoption and integration of cryptocurrency solutions within mainstream financial services. It is similar to a company town controlling its own currency, while also managing the funds of those who live there. As a New Yorker, I have seen it all, but Circle's potential trust bank could reshape how regulated stablecoin issuers operate within the U.S. financial system.

Circle對國家銀行憲章的追求不僅僅是合規性；這是合法化和穩定加密行業的戰略舉動。獲得這樣的許可可以促進主流金融服務中加密貨幣解決方案的進一步採用和整合。它類似於一個控制自己的貨幣的公司城鎮，同時還管理居住在那裡的人的資金。作為紐約客，我已經看到了這一切，但是Circle的潛在信任銀行可以重塑美國金融體系中監管的Stablecoin發行人如何運作。

The Road Ahead

前面的道路

The OCC's approval process is ongoing, but previous charters granted to crypto-native firms suggest a growing regulatory acceptance of blockchain-based financial services. Keep an eye on this space – Circle's journey could redefine the future of finance. Who knows, maybe one day we'll all be banking with crypto!

OCC的批准過程正在進行中，但是以前授予加密本地公司的憲章表明，基於區塊鏈的金融服務的監管越來越多。密切關注這個空間 - Circle的旅程可以重新定義財務的未來。誰知道，也許有一天我們都會與加密貨幣一起銀行！