Circle National Trust Bank Charter Final Approval
On July 10, 2026, the U.S. Office of the Comptroller of the Currency (OCC) granted final approval for Circle to establish a national trust bank named Circle National Trust, enabling the stablecoin issuer to manage USDC reserves and provide custody services under federal oversight.
Aggregated from 7 sources · Updated 24 Aug 2026, 03:15 UTC (UTC)
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Facts (8)
- Established
The U.S. Office of the Comptroller of the Currency (OCC) granted Circle final approval to open First National Digital Currency Bank, N.A., doing business as Circle National Trust, on July 10, 2026.
- Established
Circle's national trust bank charter enables the company to provide digital asset custody and directly manage reserves for its USDC stablecoin.
- Established
The national trust bank charter does not authorize Circle to operate as a full-service commercial bank, take deposits, or offer FDIC insurance.
- Established
Circle received its initial conditional approval from the OCC in December 2025 alongside firms including BitGo, Fidelity Digital Assets, and Paxos.
- Emerging
As of July 2026, USDC had more than $73 billion in circulation.
- EmergingNiche Signal
World Liberty Financial, a Trump family-backed venture, received its own conditional OCC approval for a national trust bank on August 14, 2026.
- EmergingNiche Signal
The GENIUS Act requires stablecoin issuers with over $25 billion in circulation to maintain at least 0.5% of reserve assets in bank or credit union deposits.
- EmergingNiche Signal
Upstart received conditional OCC approval for a de novo full-service national bank charter on July 23, 2026.