StoryRegulatory
Circle wins final approval to set up a US national trust bank
The US Office of the Comptroller of the Currency gave Circle final approval for First National Digital Currency Bank, operating as Circle National Trust. It will start with federally supervised digital asset custody and could later manage USDC reserves.
- Circle National Trust is a federally regulated national trust bank under OCC oversight
- Launches with fiduciary digital asset custody services for Circle and affiliates
- Future capability to manage USDC reserve under federal regulatory oversight, aligning stablecoin operations with traditional banking safeguards