Circle wins final OCC approval to launch national trust bank
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Circle received final OCC approval to establish a federally regulated national trust bank (Circle National Trust) focused on digital-asset custody, with plans to serve select institutional clients. The approval strengthens Circle's regulatory posture and may improve institutional confidence in USDC-related infrastructure. The business plan also leaves room for potentially bringing USDC reserve management under federal oversight, a meaningful signal for stablecoin governance and market plumbing.
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PANews, July 10: Circle (NYSE: CRCL) said it has secured final approval from the U.S. Office of the Comptroller of the Currency (OCC) to form First National Digital Currency Bank, N.A., which will operate as Circle National Trust. The entity will be chartered as a federally regulated national trust bank and will provide digital-asset custody for Circle and its affiliates. Circle said it plans to expand custody services to select institutional clients as demand develops, including banks and regulated derivatives institutions. The approved business plan also leaves room to potentially bring USDC reserve management under the federal regulatory framework in the future.
