OCC Grants Circle Final Approval for National Trust Bank Charter
Circle Internet Group received approval from the U.S. Office of the Comptroller of the Currency on Jul 10, 2026 to establish First National Digital Currency Bank, N.A., a national trust bank operating as Circle National Trust. Circle had submitted its application on Jun 30, 2025 and received conditional approval in Dec 01, 2025.
The bank will offer fiduciary digital asset custody services for Circle and its affiliates upon opening. Management of the USDC reserve is planned as a future capability, which would bring those operations under federal regulatory oversight. The OCC charter places Circle National Trust under direct federal supervision as a nationally chartered trust bank.
Circle's approved business plan also contemplates eventually offering custody to a limited number of institutional customers, focusing on banks and regulated financial institutions.
- Sets precedent for other conditionally approved crypto firms (Paxos, Ripple, BitGo, Fidelity) to convert to final charter status
- Signals a maturing regulatory framework for stablecoin issuers seeking direct federal banking supervision, potentially reshaping digital asset custody infrastructure
- OfficialCircle — Press Release
- NewsTracee Group Briefings