Several major cryptocurrency firms, including Circle, BitGo, Coinbase, and Paxos, are planning to apply for U.S. banking licenses or charters to strengthen their integration with the traditional financial system. This strategic move comes amid evolving regulatory frameworks, particularly with Congress advancing stablecoin legislation that would require issuers to obtain federal charters to offer deposit and loan services. Coinbase has confirmed it is considering applying for a federal bank charter, a step that could position it among the top 25 U.S. banks by assets. Concurrently, a consortium of global banks led by Deutsche Bank and Standard Chartered, with combined assets of approximately $1.37 trillion, is exploring expansion of their cryptocurrency operations in the United States, including services such as trading, tokenization, and custody solutions. This trend is influenced by the pro-crypto stance of the Trump administration, which has encouraged greater alignment between crypto firms and traditional banking institutions following the collapse of FTX and closures of other crypto-related banks.