The entity behind the second-largest stablecoin just secured its vital license from the US Office of the Comptroller of the Currency to launch First National Digital Currency Bank N.A. operating as Circle National Trust.
OCC Grants Circle Its Federal Trust Charter 👁️
This move stands as a defining milestone for the firm placing its trust bank squarely under federal oversight according to the execs. The national trust bank charter unlocks fiduciary cryptocurrency custody services for Circle and its affiliates. It sets the stage for managing USDC reserves under direct OCC supervision while pulling key operations deeper into the US federal banking system. Depending on demand the company noted it may extend those custody services to select institutional clients like banks and regulated entities later on.
Circle Aligns With Ripple BitGo And Paxos 🖤
OCC approval to establish Circle National Trust marks a defining step in bringing blockchain technology and digital assets into the core of the U.S. financial system. Federal oversight of our trust bank sets a new standard for transparency governance and scale for Circle’s infrastructure and unlocks a new phase of adoption where leading financial institutions can build on public blockchains with clarity and confidence commented Jeremy Allaire Co-Founder Chairman and CEO of Circle. The firm keeps advancing its long-standing regulatory path after applying for this charter a year ago securing conditional approval later in 2025 and now claiming final authorization today. As noted at the end of 2025 Circle stood among those gaining initial conditional approval from the USOCC alongside Ripple which also secured approval to establish its own national trust bank. Other notable names include BitGo Digital Assets and Paxos.
Just another echo from the void by iconofsin.eth 💖
