"At least 15 virtual asset and fintech companies have applied for a 'bank charter' with the US Office of the Comptroller of the Currency"

At least 15 virtual asset (cryptocurrency) and fintech companies have applied for a bank charter with the US Office of the Comptroller of the Currency (OCC).

According to Crypto in America on the 23rd (local time), at least 15 virtual asset (cryptocurrency) and fintech companies have applied for a bank charter with the US Office of the Comptroller of the Currency. In particular, companies like Circle and BitGo have applied for the charter to integrate with the existing financial system, while some are reportedly pursuing the charter to gain easier access to the Federal Reserve's (Fed) master account.

A master account is a central bank account issued by the Fed, and if the application is approved, virtual asset companies will be able to use the Fed's payment system without traditional bank involvement. So far, no virtual asset company has obtained a master account.

The media stated, "The Trump administration's favorable stance towards virtual assets has led to a surge in bank charter applications by virtual asset companies," and evaluated that "the US Office of the Comptroller of the Currency is likely to respond positively."

However, the Fed's negative response is still pointed out as an obstacle to the issuance of master accounts. The media added, "The Fed has raised concerns about systemic risk and regulatory discrimination, and has excluded virtual asset companies that have already received a bank charter from the Office of the Comptroller of the Currency from being eligible for a master account," and "Existing financial institutions also hold a negative stance on new trust companies accessing master accounts."