A prominent issuer of stablecoins has received official approval to launch a specialized trust bank for digital asset custody services.
Circle Internet Group has announced that it has obtained final approval from the U.S. Office of the Comptroller of the Currency to establish First National Digital Currency Bank, N.A., which will operate as Circle National Trust.
This new bank will offer institutional custody services for USDC and various other digital assets under thorough federal supervision.
Jeremy Allaire, Chairman and CEO of Circle, stated that this milestone reinforces Circle’s regulated infrastructure and puts the bank directly under OCC oversight.
“The approval from the OCC to establish Circle National Trust signifies a significant advancement in integrating blockchain technology and digital assets into the heart of the U.S. financial system.
Federal oversight of our trust bank sets a new benchmark for transparency, governance, and scalability for Circle’s infrastructure, ushering in a new era of adoption where major financial institutions can confidently utilize public blockchains.”
This approval comes after receiving a conditional green light in December 2025 following an application submitted in June 2025.
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Image Source: Midjourney