Circle Secures OCC Approval for National Trust Bank to Custody USDC and Digital Assets
A leading stablecoin issuer, Circle Internet Group, has secured final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish First National Digital Currency Bank, N.A., operating as Circle National Trust. The new institution will provide institutional custody for USDC and other digital assets under full federal oversight.
Circle Chairman and CEO Jeremy Allaire stated that the 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 emphasized that federal oversight of the trust bank sets a new standard for transparency, governance, and scale for Circle’s infrastructure, unlocking a new phase of adoption where leading financial institutions can build on public blockchains with clarity and confidence.
The approval follows a conditional nod in December 2025 after an application submitted in June 2025.