Key facts
- Circle received final OCC approval to establish a national trust bank, Circle National Trust.
- The approval allows Circle to place its USDC reserves under federal oversight.
- The new bank will initially offer digital asset custody services to Circle and its affiliates.
- Circle's stock surged up to 10.25% in pre-market trading following the announcement.
Circle Internet Group, Inc. has secured final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank, to be known as Circle National Trust, or First National Digital Currency Bank, N.A. This significant regulatory milestone will bring Circle's USD Coin (USDC) reserves under federal oversight and prepare for federally regulated custody and management. The new institution will initially focus on digital asset custody services for Circle and its affiliates, with plans to expand to select institutional clients as demand grows. Circle's CEO, Jeremy Allaire, stated that federal oversight sets a new standard for transparency and governance, integrating blockchain technology into the U.S. financial system. Circle had previously received conditional approval in December 2025 after filing its charter application on June 30, 2025, and has been expanding its global regulatory compliance, including being the first global stablecoin issuer to meet the EU's MiCA requirements. Following the announcement, Circle's stock (CRCL) surged approximately 10.25% in pre-market trading on Thursday.