Internet reports that stablecoin issuer Circle(CRCL.K) is applying to establish a national trust bank in the United States. The application is a key move in the follow-up to the company's initial public offering earlier this month that achieved a valuation of nearly $18 billion. If the Office of the Comptroller of the Currency (OCC) approves this concession, Circle will be able to serve as a custodian of its own reserves and hold crypto assets on behalf of institutional customers. But unlike traditional banks, the license does not allow Circle to take cash deposits or make loans. Currently, cryptocurrency platform Anchorage Digital is the only digital asset company with a National Trust Bank license. Experts and analysts said that once the bill is signed into effect, it may pave the way for more traditional financial institutions and retailers to include stablecoins in their business.