Circle receives OCC approval for national trust bank

Circle secured OCC approval to launch Circle National Trust, a federally regulated digital asset custody bank. The move boosted shares and marks a milestone for USDC’s integration into traditional finance.

Circle has received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish First National Digital Currency Bank, N.A., also known as Circle National Trust. This federally chartered trust bank will operate under OCC supervision and is authorized to provide fiduciary digital asset custody services. Initially, Circle National Trust will support Circle and its affiliates, with plans to expand services to institutional clients such as banks and financial institutions. This approval marks a significant milestone, making Circle the first USDC-focused entity to secure a federal bank charter in the United States. The move is expected to strengthen Circle’s management of USDC reserves and accelerate its integration into the traditional financial system. Following the announcement, Circle’s shares surged between 7% and 13% in pre-market trading, reflecting investor confidence in the company’s expanding role in regulated digital asset infrastructure.