WSJ "Deutsche Bank and SC Considering Expanding Crypto Asset Business in the US... Increasing Industry Connections"

Some major banks are considering expanding their crypto asset business in the US, raising the possibility of increased connections between the banking sector and the crypto asset industry.

On the 21st (local time), the Wall Street Journal (WSJ) cited informed sources, stating, "Due to President Trump's pro-crypto asset stance, some banks are striving to increase their ties with the crypto asset industry," and "Germany's largest bank, Deutsche Bank, and investment bank Standard Chartered (SC) are considering expanding their crypto asset business in the US." Additionally, some banks belonging to a banking consortium are also considering conducting crypto asset business in the US. However, specific plans have not been disclosed.

The media also noted recent moves by the banking sector. Previously, in February, Bank of America (BoA) CEO Brian Moynihan stated, "If regulations are established, we are willing to issue our own stablecoin." In April, U.S. Bancorp resumed its crypto asset custody services.

Attempts by the crypto asset industry to enter the banking sector are also continuing. According to sources, several crypto asset companies, including USDC issuer Circle and custody firm BitGo, plan to apply for banking licenses. The US-based crypto asset exchange Coinbase is also considering this.

The media explained, "Some companies want a trust bank or industrial bank license that allows for deposit and lending like traditional banks," and "some companies plan to apply for a narrow license related to stablecoin issuance."