Circle receives OCC approval for national trust bank in the US

Circle is taking a major step towards the traditional financial world. The company behind the USDC stablecoin has received final approval from the US Office of the Comptroller of the Currency (OCC) to establish a national trust bank. The news sends Circle’s stock price up immediately.

USDC is available at OKX and Bybit.

Circle establishes First National Digital Currency Bank

According to an official press release from Circle, the new institution is called First National Digital Currency Bank, N.A., and will operate under the name Circle National Trust. The bank will initially focus on providing fiduciary custody services for digital assets to Circle itself and affiliated parties.

The OCC approval is a milestone for Circle, which as the issuer of USDC has played a central role in the stablecoin market for years. With its own national trust bank, the company is positioning itself firmly within the US financial system. Previously, Circle was sued in Wisconsin for refusing to help scam victims, showing that the path to full regulatory acceptance is not without obstacles.

Circle stock rises more than 7.7% in pre-market trading

Investors are reacting enthusiastically to the news. Circle’s stock is rising by more than 7.7% in pre-market trading, indicating that investors see the banking licence as a significant step forward for the company. A proprietary trust bank gives Circle more control over its operations and strengthens trust among institutional clients.

The development fits into a broader trend in which crypto companies are increasingly seeking ties with traditional banking structures. For instance, Polymarket is applying for a margin trading licence in the US, and the ESMA is launching the first major crypto custody review after MiCA. The sector is clearly moving towards greater regulatory integration, and Circle is leading the way.