Circle has received approval from the OCC to establish Circle National Trust, a federally regulated national trust bank. The charter strengthens the infrastructure behind USDC and could eventually bring management of the stablecoin’s reserve under direct federal oversight.
Key Takeaways
Circle won OCC approval for a national trust bank to strengthen USDC infrastructure.Circle National Trust could bring USDC reserve management under federal OCC oversight.Circle plans to expand custody services, reinforcing USDC’s role in regulated finance.Circle Internet Group has received approval from the U.S. Office of the Comptroller of the Currency to establish a national trust bank, marking one of the company’s most important regulatory milestones in the United States.
The new entity, First National Digital Currency Bank, will operate as Circle National Trust. It will be supervised directly by the OCC, the federal regulator responsible for national banks and national trust banks.
USDC Infrastructure Moves Under Federal OversightCircle National Trust’s approved business plan also leaves room for limited institutional custody services. Depending on demand, the bank may later offer digital asset custody directly to select institutional customers, with a focus on banks and other financial institutions, including regulated derivatives organizations.
Circle Expands Global Regulatory FootprintThe OCC approval follows a long regulatory process. Circle submitted its application on June 30, 2025, and received conditional approval in December 2025.
