Circle Internet Group, Inc. (NYSE: CRCL) has reached a major regulatory milestone with conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a national trust bank: First National Digital Currency Bank, N.A.

Once fully approved, the bank would operate as a federally regulated trust bank, overseeing the USDC Reserve and offering fiduciary digital asset custody and related services to institutional clients. The move comes as stablecoins and blockchain-based digital dollars gain traction under the GENIUS Act, enacted in the U.S. in July 2025.

Advancing Regulatory Compliance and Trust

“Establishing a national digital currency trust bank deepens Circle’s longstanding commitment to trust and compliance,” said Jeremy Allaire, Co-Founder, Chairman, and CEO of Circle. “This milestone gives global institutions greater clarity and confidence to build on Circle’s platform as stablecoins move into mainstream finance.”

The new charter will bolster the safety and regulatory oversight of the USDC Reserve, while aligning Circle’s U.S. operations with global stablecoin standards. It also paves the way for offering institutional-grade fiduciary services, strengthening Circle’s position as a bridge between traditional finance and digital assets.

A History of Regulatory Firsts

Circle’s conditional approval builds on a decade of regulatory-first initiatives:

• 2015: First company to receive a BitLicense from the New York Department of Financial Services.
• 2024: First global stablecoin issuer to comply with the EU’s MiCA framework.
• 2025: Licensed by Abu Dhabi Global Market’s Financial Services Regulatory Authority to operate as a money services provider.
• Other licenses and undertakings in UK, Singapore, Bermuda, and Canada, demonstrating global regulatory engagement.

Submitted on June 30, 2025, Circle’s OCC application marks a critical step toward federally regulated oversight of USDC, providing institutions with the transparency and confidence required for broader adoption.

As stablecoins increasingly underpin digital finance infrastructure, Circle’s First National Digital Currency Bank represents a blueprint for institutional-grade stablecoin operations, bridging compliance, transparency, and innovation in digital assets.