Circle Secures Approval to Launch National Trust Bank
BITmarkets Team
Jul 10, 2026
“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 authorization follows Circle’s application for a national trust bank charter in June 2025. It enables the company to create a federally supervised trust institution and further develop its digital asset custody infrastructure.
Circle National Trust to begin with limited custody services
Under its approved business plan, Circle National Trust will initially provide fiduciary digital asset custody services exclusively to Circle and its affiliated companies. The institution may later extend these services to a limited range of institutional clients if sufficient demand emerges. Potential customers could include banks and other regulated financial institutions, such as derivatives firms.
The national trust bank structure could also allow Circle to manage the reserves backing USDC under direct federal oversight in the future, although the company has not yet confirmed whether it will implement that arrangement.
The approval further expands Circle’s regulatory presence across major global markets. The company said it became the first business to obtain a BitLicense from the New York Department of Financial Services in 2015 and the first global stablecoin issuer to comply with the European Union’s Markets in Crypto-Assets Regulation framework in 2024. Circle has also received regulatory approvals in jurisdictions including the United Kingdom, Singapore, Bermuda, Canada and Abu Dhabi as it continues expanding its global USDC infrastructure.
USDC market cap grows as Circle shares rally
At the time of publication, USDC was the second-largest stablecoin by market capitalization, valued at approximately $73.3 billion, according to CoinGecko. Its market capitalization has grown by 16.7% over the past year, rising from $62.8 billion. However, it remains 2.5% lower year-to-date, having started the year at around $75.2 billion.
Circle Internet Group shares also reacted strongly to the announcement. CRCL stock gained approximately 16% in pre-market trading on Friday, climbing above $73 after closing the previous session at $63, according to Yahoo Finance data.
Sources:
https://www.circle.com/pressroom/circle-receives-final-occ-approval-to-establish-national-trust-bank
https://cointelegraph.com/news/circle-final-occ-approval-national-trust-bank-charter
https://www.circle.com/fr/pressroom/circle-applies-for-national-trust-charter
https://www.dfs.ny.gov/reports_and_publications/press_releases/pr1509221
https://x.com/circle/status/2075521704236077081
