Circle has received final approval from the US Office of the Comptroller of the Currency (OCC) to establish First National Digital Currency Bank (FNDCB), a national trust bank that will operate under the name Circle National Trust.
The OCC's decision marks a significant step toward bringing Circle's custody and trust-related services into a federally regulated banking structure. The company said the approval follows its application for the national trust bank charter in June 2025.
Circle CEO Jeremy Allaire called it 'a defining step in bringing blockchain technology and digital assets into the core of the US financial system,' according to Circle's press release.
The initial mandate focuses on fiduciary digital asset custody for Circle and affiliated companies. Circle National Trust may later extend services to a limited set of institutional customers if demand grows.