Circle shares surge 13% after securing final OCC trust bank approval in the US
Circle National Trust will launch with regulated digital asset custody services
The new trust bank will operate under direct federal OCC supervision nationwide
USDC reserve management remains part of Circle’s future banking expansion plans
Circle strengthens its global regulatory footprint with the new OCC bank charter
Circle Internet Group (CRCL) shares jumped 13.17% in pre-market trading to $71.25 after receiving final OCC approval. The stock recovered sharply after closing the previous session at $63.01, down 1.65%. The approval allows Circle to establish a federally regulated national trust bank focused on digital asset custody.
Circle will establish First National Digital Currency Bank, which will operate publicly as Circle National Trust. The Office of the Comptroller of the Currency will directly supervise the new national trust bank. The regulator oversees national banks and trust institutions operating under federal banking rules.
The approval gives Circle a federal framework for providing fiduciary digital asset custody services. Circle National Trust will initially serve Circle and its affiliated companies after beginning operations. The approved plan also allows limited expansion based on institutional demand.
Circle may later provide custody services directly to banks and other regulated financial institutions. These potential clients could include derivatives organizations and other firms requiring federally supervised custody. The charter could expand Circle’s role within institutional digital asset markets.
Circle National Trust will safeguard digital assets under federal fiduciary and governance standards. The structure brings parts of Circle’s USDC infrastructure under direct national banking supervision. It also strengthens Circle’s compliance position as stablecoin regulation develops across major markets.
The bank will not accept traditional cash deposits or issue loans to customers. Instead, it will hold assets and provide custody services permitted under its trust charter. This structure separates the trust bank from traditional commercial banking operations.
Circle also plans to add USDC reserve management as a future capability. However, the bank will not manage those reserves when it begins operating. Federal supervision could later support greater transparency across reserve custody and management processes.
Circle submitted its national trust bank application to the OCC on June 30, 2025. The regulator issued conditional approval in December 2025 before granting final approval. The process followed Circle’s broader effort to build regulated digital asset infrastructure.
Circle received New York’s BitLicense in 2015 and continued operating under state supervision. The company later secured regulatory approvals in Singapore, Bermuda, Britain, Canada, and Abu Dhabi. It also complied with the European Union’s Markets in Crypto-Assets framework during 2024.
Other crypto companies have also pursued national trust bank charters since Circle filed its application. Ripple, Coinbase, Crypto.com, Paxos, and several financial firms entered the expanding charter process. Meanwhile, BitGo and Anchorage Digital have already secured full national trust bank approvals.
Circle will transfer USDC issuance to a New York limited-purpose trust company under earlier approval terms. Therefore, Circle National Trust will focus mainly on custody during its initial operating phase. The final approval still gives Circle a stronger federal position across digital payments, settlement, and capital markets.
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