Circle Receives OCC Approval for National Trust Bank to Strengthen USDC Infrastructure

Circle Internet Financial has received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish First National Digital Currency Bank, N.A., a national trust bank called Circle National Trust.

The OCC approval represents a major milestone for Circle, enabling institutional custody services and strengthening the infrastructure of USDC, the world's largest regulated stablecoin.

As a federally regulated national trust bank, Circle National Trust will operate under strict fiduciary standards, ensuring safety, soundness, and transparency in its operations.

Circle submitted its application to the OCC on June 30, 2025, and received conditional approval in December 2025. The company has a long-standing commitment to regulatory engagement, having received a BitLicense from the New York Department of Financial Services in 2015 and complying with the European Union's Markets in Crypto-Assets framework in 2024.

Circle National Trust will offer fiduciary digital asset custody services for Circle and its affiliates upon opening. Depending on demand, it may eventually offer its digital asset custody service to a limited number of institutional customers directly.