Golden Finance reports that more and more fintech and cryptocurrency companies are applying for state or federal banking licenses in the United States, aiming to expand their business in the context of more crypto-friendly backdrop of the Trump administration. Industry executives said discussions and applications for licenses have increased significantly. "We see more interest. We are now dealing with multiple applications," Alexandra Steinberg Barrage, a partner at law firm Troutman Pepper Locke, told Reuters. However, companies are "cautiously optimistic" due to changes in regulatory leadership. Becoming a bank will bring stricter regulation, but can reduce borrowing costs and enhance legitimacy. Banking licenses allow companies to reduce capital costs by accepting deposits, and cryptocurrency companies including Paxos, Anchorage and Protego have obtained federal trust licenses through the U.S. Office of the Comptroller of Currency (OCC), becoming federally regulated crypto “banks”. Kraken and Avanti have obtained special purpose depository licenses in Wyoming, making them a state-regulated crypto bank.