California-based Metal Pay has become the latest cryptocurrency company to apply for a national banking charter in the United States, according to a Coindesk report.
The startup has already filed its application with the Office of the Comptroller of the Currency (OCC) on Wednesday and is seeking the license for First Blockchain Bank and Trust, N.A.
Unlike other cryptocurrency companies, Metal Pay is seeking a full banking license, meaning it will be allowed to receive deposits in both fiat and digital currencies. Though the company is yet to file applications with the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Bank of San Francisco, it will approach them soon.
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