Circle Receives Final Green Light to Establish National Trust Bank
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Circle, issuer of the second-largest stablecoin USDC, secured an OCC license to launch First National Digital Currency Bank, N.A., which will operate as Circle National Trust, marking a major regulatory milestone that places its trust bank under direct federal oversight. The approval should strengthen security and compliance for USDC, boost institutional adoption and custody use across crypto, DeFi and CEX ecosystems, and is likely positive for token stability and market confidence.
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The entity behind the second-largest stablecoin announced earlier today that it has secured the necessary license from the US Office of the Comptroller of the Currency (OCC) to launch First National Digital Currency Bank, N.A., which will operate as Circle National Trust.
This authorization represents one of the most significant milestones for the firm as it places its trust bank under direct federal oversight, said its execs.
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