Circle Internet Group, Inc. (NYSE: CRCL), a financial technology firm, announced today that it has received approval from the U.S. Office of the Comptroller of the Currency (OCC) to set up Circle National Trust, or First National Digital Currency Bank, N.A. (“FNDCB”). The authorization will be an important regulatory milestone for a stablecoin issuer, which pushed the CRCL stock up by 10%.
Circle Eyes Establishing National Digital Asset Trust
The latest feat puts its national trust bank directly under federal control and prepares for federally regulated custody and, eventually, management of USDC reserves. The new institution will initially offer digital asset custody services for fiduciary purposes to Circle and its affiliates.
The OCC-approved business plan allows the bank to expand those services, on an optional basis, to a selected subset of institutional clients (banks and regulated financial institutions) as demand dictates. Circle also stated the charter is meant to help with the future regulation of the USDC reserve and will be included in a federal banking system that aims to build transparency and trust.
Circle Co-Founder and CEO Jeremy Allaire said, “OCC approval to establish Circle National Trust marks a defining step in bringing blockchain technology and digital assets into the core of the U.S. financial system.” He added that “Federal oversight of our trust bank sets a new standard for transparency, governance, and scale for Circle’s infrastructure and unlocks a new phase of adoption, where leading financial institutions can build on public blockchains with clarity and confidence.”
MiCA Feat & CRCL Stock Update
Circle filed an application for charter on June 30, 2025, and in December 2025 was conditionally approved, after which it has been expanding its regulatory oversight around the world. The company was already the first to get a BitLicense in New York in 2015, the first global stablecoin issuer to meet the EU’s MiCA requirements in 2024. Moreover, it is licensed in the UK, Singapore, Bermuda, Canada, and Abu Dhabi.
Following the announcement, CRCL stock surged in Friday pre-market trading, jumping 10.25% to $69.47 on Thursday when it closed 1.65% down at $63.01. The recovery follows 20% drops in shares over the last month under pressure from the launch of OUSD stablecoin and legal issues.
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