Circle Secures Final Approval for USDC Issuer National Trust Bank Charter

Circle Internet Group has secured final approval from the US Office of the Comptroller of the Currency (OCC) to establish First National Digital Currency Bank, 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 approval follows Circle's 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 the company's press release.

The new bank will initially offer fiduciary digital asset custody services for Circle and its affiliated companies. This approach is common when new regulated entities begin operations, especially when they involve specialized services like digital asset custody.