Circle Internet Group received final approval from the US Office of the Comptroller of the Currency today to create a national trust bank, a significant milestone that has sent the stablecoin issuer’s shares soaring and deepened its ties with the federal banking system.
Organizer to survey Circle to establish First National Digitalcurrency Bank, N.A., which will operate under the name Circle National Trust.
The company, which trades on the New York Stock Exchange under the symbol CRCL, said the charter places the new entity under direct federal supervision by the OCC, the chief supervisor of national banks and national trust banks.
Circle National Trust will provide fiduciary custody services for digital assets held by Circle and its affiliates. Under the business plan approved by the Securities Harmonization Office, the bank can expand custody services to a limited group of institutional clients, with a focus on banks and regulated financial derivatives institutions.
The charter opens a path for the bank to manage the reserve backing USDC, the largest regulated stablecoin, which would place this multibillion-dollar pool under federal oversight.
National Trust Banks Different from traditional lenders. They maintain clients’ assets and provide credit services, but do not accept deposits or issue loans. This structure aligns its digital asset infrastructure with a long-term model of holding client assets under strict fiduciary standards.
“The OCC’s approval of the establishment of Circle National Trust represents a critical step in bringing blockchain technology and digital assets to the heart of the American financial system,” said Jeremy Allaire, co-founder, chairman and CEO of Circle. Federal oversight of the trust bank “sets a new standard for transparency, governance and scale” and opens a phase of adoption where large financial institutions can build on public blockchains with confidence, he said.
Investors welcomed the decision. CRCL shares rose as much as 14% on the day of the announcement, a rebound from a three-month low. Other crypto-related names, including Coinbase and Strategy, posted gains near 5% this morning as Bitcoin rebounded.
CRCL shares have since settled for a 5% gain.
Federal framework for the department
The approval culminates a process that began when Circle submitted its application on June 30, 2025. Granted Conditional approval in December 2025, alongside peers like Ripple, BitGo, Fidelity Digital Assets, and Paxos.
Final decision It arrives As the GENIUS Act, the federal stablecoin law passed in July 2025, is moving toward full implementation in early 2027.
This law requires OCC oversight of major stablecoin issuers, and establishes a Circle Trust Charter to fulfill the mandate while bringing USDC reserves into a federal framework.
Circle has built a record of regulatory engagement across markets. Obtained BitLicense from New York in 2015, become The first global stablecoin issuer to comply with the EU Markets Framework for Cryptoassets in 2024, and holds licenses in the UK, Singapore, Bermuda and Abu Dhabi.
Circle said the charter strengthens USDC’s role as a regulated digital dollar infrastructure for payments, settlements and capital markets.
