• Circle has received final OCC approval to establish a national trust bank that will provide federally regulated digital asset custody services.
• The approval strengthens USDC infrastructure under direct OCC oversight, with future plans for USDC reserve management and expanded institutional custody offerings.
• CRCL rose 5% following the announcement.

Circle (CRCL) has received final approval from the US Office of the Comptroller of the Currency (OCC) to establish a national trust bank, marking a major regulatory milestone for the USDC issuer.

Circle gains OCC approval to establish national trust

The approval allows the company to launch First National Digital Currency Bank, N.A., which will operate as Circle National Trust, according to a Friday announcement. The trust bank will initially provide federally regulated digital asset custody services for Circle and its affiliates while operating under direct OCC oversight.

“OCC approval to establish Circle National Trust marks a defining step in bringing blockchain technology and digital assets into the core of the US financial system,” said Circle co-founder Jeremy Allaire.

Circle noted that the new entity will strengthen the infrastructure supporting USDC by enhancing custody capabilities. The company also plans to expand custody services to institutional clients, including banks and other regulated financial institutions, over time.

“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,” Allaire added.

Circle added that the national trust bank could eventually manage reserves backing USDC under federal oversight, a move that could further strengthen transparency and regulatory oversight of the stablecoin.

The approval follows Circle's initial application in June 2025 and the conditional approval granted by the OCC in December 2025. It also builds on the company's existing regulatory licenses across multiple jurisdictions, including compliance with the EuropeanUnion's Markets in Crypto-Assets (MiCA) framework and licenses in the UK, Singapore, Bermuda and Abu Dhabi.

OCC approval signals broader crypto banking shift

The OCC also previously approved national trust bank charters for several other crypto-focused firms. In late 2025, the regulator granted conditional approvals to several applicants, including Ripple National Trust Bank.

It also approved charter conversions for Paxos Trust Company, BitGo Bank & Trust and Fidelity Digital Assets, with additional conditional approvals later issued to entities affiliated with Crypto.com and Bridge.

The growing number of national trust bank approvals reflects a broader effort to bring digital asset custody and stablecoin activities under federal banking supervision, providing crypto firms with a clearer regulatory pathway while expanding access to regulated financial infrastructure.

Circle shares rose over 10% following the announcement but have since eased to 4.2% at the time of writing.