Coinbase confirms it is considering applying for a U.S. federal banking license

ChainCatcher news, according to Cointelegraph, the U.S.-listed cryptocurrency exchange Coinbase has confirmed that it is considering applying for a U.S. federal banking license. A Coinbase spokesperson stated that the company is actively considering this option but has not yet made any formal decision.

In addition to Coinbase, stablecoin issuers Circle, Paxos, and cryptocurrency custodian BitGo are also rumored to be interested in applying for banking licenses. After obtaining a banking license, cryptocurrency companies may be able to accept deposits and issue loans like traditional banks, but they will also face stricter regulatory and reporting requirements.