Internet reports that Coinbase confirmed that it is considering applying for a U.S. federal bank license. A Coinbase spokesperson said the company is actively considering this option but has not yet made any formal decisions. In addition to Coinbase, stablecoin issuers Circle, Paxos and cryptocurrency custodian BitGo have also been rumored to be interested in applying for a banking license. After obtaining a banking license, cryptocurrency companies will be able to absorb deposits and issue loans like traditional banks, but will also face stricter regulatory and reporting requirements.