USDC issuer Circle wins final approval for US national trust bank charter
Circle received final approval from the US OCC to launch First National Digital Currency Bank, operating as Circle National Trust, a federally regulated national trust bank. The bank will initially provide fiduciary digital asset custody services for Circle and its affiliates, with possible expansion to selected institutional clients such as banks and regulated financial firms. The structure could also support future management of the USDC reserve under federal oversight. The approval strengthens Circle’s regulatory position in the US and adds to its global compliance footprint, which includes approvals or regulatory milestones in New York, the EU, the UK, Singapore, Bermuda, Canada, and Abu Dhabi. USDC remains the second-largest stablecoin, with a market cap around $73.3 billion. Circle’s stock jumped in pre-market trading after the announcement.
