USDC issuer Circle wins final approval for US national trust bank charter

Circle announces it received final OCC approval for a national trust bank that will initially serve the company and affiliates, with possible future custody services for institutional clients.

USDC stablecoin issuer Circle on Friday announced it received final approval from the US Office of the Comptroller of the Currency (OCC) to establish First National Digital Currency Bank (FNDCB), a national trust bank that will operate under the name Circle National Trust.

“OCC approval to establish Circle National Trust marks a defining step in bringing blockchain technology and digital assets into the core of the US financial system,” Circle CEO Jeremy Allaire said.

The approval comes after Circle applied for the charter in June 2025, allowing it to establish a federally regulated trust institution and expand its digital asset custody infrastructure.

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