Circle has received approval from the US Office of the Comptroller of the Currency (OCC) to establish a national trust bank.
The new entity, operating as Circle National Trust, brings Circle’s digital asset custody infrastructure supporting USDC under direct federal regulatory oversight.
Upon opening, the bank will provide fiduciary digital asset custody services for Circle and its affiliated companies.
According to the business plan approved by the OCC, Circle National Trust may eventually offer these custody services directly to institutional customers, specifically targeting banks and regulated derivatives organisations.
The national trust charter is designed to support the company’s future capabilities.
This includes the future management of the USDC Reserve. The expansion would place the stablecoin’s reserve operations within a proven federal banking framework.
“OCC approval to establish Circle National Trust marks a defining step in bringing blockchain technology and digital assets into the core of the US financial system,”
said Jeremy Allaire, Co-Founder, Chairman, and CEO, Circle.
Allaire added that federal oversight provides regulatory clarity for traditional financial institutions looking to build on public blockchains.
Circle originally submitted its OCC application in June 2025 and secured conditional approval in December of that year.
The federal charter expands the company’s existing regulatory footprint.
Circle secured a BitLicense from the New York Department of Financial Services in 2015. In 2024, it became the first global stablecoin issuer to comply with the European Union’s Markets in Crypto-Assets framework.
The firm also holds licenses in the UK, Singapore, and Bermuda, and secured regulatory approval in Abu Dhabi.
Featured image credit: Edited by Fintech News Switzerland, based on image by Frolopiaton Palm via Magnific
