This is a 'HISTORIC' milestone for crypto: Circle president

• Circle received a de novo federal trust charter, a historic first for a digital assets company in the U.S., allowing it to directly manage USDC reserves.
• USDC is highlighted as the world's leading regulated stablecoin, involved in ~70% of dollar stablecoin transactions.
• The stablecoin market cap is projected to reach $1.45 trillion by 2035, driven by frictionless, 24/7, low-cost transactions and regulatory clarity from acts like the Genius Act.
• Circle welcomes competition, asserting USDC's strong position due to its widespread use across 34 blockchains and eight years of development.

Circle Internet Group's president discusses the company's historic approval to establish a federally regulated National Trust Bank, enabling direct management of USDC stablecoin reserves. This development is seen as a significant step for the crypto industry, enhancing trust and potentially driving the stablecoin market to $1.45 trillion by 2035, despite current stock volatility and emerging competition.