First National Digital Currency Bank

Circle (CRCL) received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank, Circle National Trust, which will provide custody services for digital assets and manage reserves for its stablecoin USDC under federal oversight. The approval strengthens Circle's ties to the federal banking system and aligns with the implementation of the GENIUS Act, a federal stablecoin law.

Stablecoin firm Circle has received final approval from the Office of the Comptroller of the Currency (OCC) to establish the First National Digital Currency Bank. The company plans to manage reserves for its USDC stablecoin in a later phase.