A leading stablecoin issuer has secured federal approval to launch a dedicated trust bank for 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 establish First National Digital Currency Bank, N.A., operating as Circle National Trust.
The new institution will provide institutional custody for USDC and other digital assets under full federal oversight.
Circle Chairman and CEO Jeremy Allaire says the milestone strengthens Circle’s regulated infrastructure and places the bank under direct OCC supervision.
“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.”
The approval follows a conditional nod in December 2025 after an application submitted in June 2025.
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