A leading stablecoin issuer has won federal approval to launch a trust bank dedicated to digital asset custody services.
Circle Internet Group says it has received final approval from the U.S. Office of the Comptroller of the Currency to create the nation’s first digital currency bank, NA, operating as Circle National Trust.
The new institution will provide institutional custody of USDC and other digital assets under full federal oversight.
Jeremy Allaire, Circle’s chairman and CEO, says this step strengthens Circle’s regulated infrastructure and places the bank under the direct supervision of the OCC.
“The OCC’s approval of the creation of the Circle National Trust marks a milestone in the integration of blockchain technology and digital assets into the heart of the U.S. financial system.
Federal oversight of our trusted bank sets a new standard in transparency, governance, and scale for Circle’s infrastructure and ushers in a new phase of adoption, where leading financial institutions can build on public blockchains with clarity and confidence.
The approval follows a conditional agreement in December 2025 after an application submitted in June 2025.
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