Circle CEO: ‘We Want To Be a Full Reserve Digital Currency Bank’

In a recent interview on CNBC’s “Crypto World” show, Jeremy Allaire, the Co-Founder, Chairman, and CEO of Circle Internet Financial, the issuer of fiat-backed stablecoin USD Coin ($USDC), talked about his firm’s long-term goal.

According to a report by The Daily Hodl, Allaire told CNBC technology reporter Kate Rooney:

“We want to be a full reserve digital currency bank. We’d like a framework for that to exist. We’d like to apply for that license if such a license was available… We think the world needs a full reserve banking system. We think the world needs much safer base layer money and that’s what stablecoins represent. And so if that becomes something that say the Federal Reserve supervised, and we were sort of chartered and operated in that way and have the amount of supervision that goes with that, that’s absolutely s