Circle has secured final approval from the U.S. Office of the Comptroller of the Currency to establish a national trust bank. The approval allows the stablecoin issuer to operate Circle National Trust under federal oversight. Company shares rose 14 percent in pre-market trading following the announcement.
Circle received the final charter on July 10 after applying in June 2025 and obtaining conditional approval six months later. The new bank will initially provide fiduciary digital asset custody services for Circle and its affiliates.
Under the approved plan, services could later expand to a limited number of institutional clients such as banks and other regulated financial firms. Reserve management for the USDC stablecoin remains a future capability under OCC supervision.
"OCC approval to establish Circle National Trust marks a defining step in bringing blockchain technology and digital assets into the core of the U.S. financial system," Circle CEO Jeremy Allaire said in a statement. "Federal oversight of our trust bank sets a new standard for transparency, governance, and scale for Circle's infrastructure."
USDC, the second-largest dollar-pegged stablecoin, has about $73.2 billion in circulation. The move aligns with similar steps by other crypto firms seeking federal charters.
