Circle · New York · Bitcoin Magazine
Circle (CRCL) Clinches Final OCC Approval for National Trust Bank
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Circle won final OCC approval to establish a national trust bank, allowing it to place USDC reserves under federal oversight and expanding its regulated digital asset custody business.
Key facts
- The final decision arrives as the GENIUS Act, the federal stablecoin law enacted in July 2025, moves toward full implementation in early 2027
- The approval caps a process that began when Circle filed its application on June 30, 2025
- CRCL shares climbed as much as 14% on the day of the announcement, a rebound from a three-month low
- The regulator cleared Circle to charter First National Digital Currency Bank, N.A., which will operate under the name Circle National Trust
Summary
Circle Internet Group secured final approval from the U.S. Office of the Comptroller of the Currency today, to establish a national trust bank, a milestone that sent the stablecoin issuer’s shares higher and deepened its ties to the federal banking system. The regulator cleared Circle to charter First National Digital Currency Bank, N.A., which will operate under the name Circle National Trust. The company, which trades on the New York Stock Exchange under the ticker CRCL, said the charter places the new entity under direct federal oversight by the OCC, the primary supervisor for national banks and national trust banks. Circle National Trust will provide fiduciary custody services for digital assets held by Circle and its affiliates.