Circle Wins OCC Approval to Launch National Digital Currency Trust Bank

Circle Internet Group, the issuer of the USDC stablecoin, has secured approval from the U.S. Office of the Comptroller of the Currency (OCC) to set up a national digital currency trust bank, a move that broadens its stablecoin footprint. According to Circle, the OCC has authorized the creation of a new entity to be called \"Circle National Trust\". The firm will operate under the federal trust bank supervisory framework and offer institution-grade services, including digital asset custody. The decision positions Circle to expand into regulated digital-asset custody beyond USDC issuance and payments, bringing its oversight under a single federal trust charter. CEO Jeremy Allaire has said stablecoins are becoming core infrastructure linking traditional finance with onchain economies. Market participants view the charter as a meaningful step in the shift of stablecoin issuers toward becoming financial infrastructure providers. (Bloomberg)