A host of crypto firms including Circle and BitGo plan to apply for bank charters or licenses, according to people familiar with the matter. Crypto exchange Coinbase Global and stablecoin company Paxos are considering similar moves, other people said.

Four of the crypto industry’s most influential companies—Coinbase, Circle, BitGo, and Paxos—have officially applied for U.S. banking licenses. This potential intersection of cryptocurrency and traditional finance could signal a new era of integration between digital assets and the American banking system.