Key Highlights
- Circle stock jumped 14% after the OCC approved its national trust bank.
- Circle National Trust will provide digital asset custody under federal oversight.
- The approval strengthens USDC’s infrastructure and supports future reserve management.
Circle Internet Group (NYSE: CRCL) shares jumped about 14% on Friday after the company received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to launch a national trust bank in the United States.
Announced in a press release on Friday, this approval is a major regulatory milestone for the stablecoin issuer and gives Circle the green light to operate a federally regulated trust bank called Circle National Trust.
The approval also ends a process that started more than a year ago. Circle first applied for the national trust bank charter on June 30, 2025, and received conditional approval in December 2025.
With the OCC now granting final approval, the company can move forward with opening Circle National Trust under direct federal oversight.
Following the news, the stock surged to $71.96 up from an intraday low of $64.07. Its trading volume has increased by $15.45 million with market cap surging to over $16.63 billion in value.
Circle national trust begins with custody services
Circle said the new trust bank will first provide digital asset custody services for the company and its affiliates. In simple terms, custody means safely holding and protecting digital assets on behalf of clients.
Over time, the company may also offer these services to a limited number of institutional customers, including commercial banks, regulated financial institutions, and derivatives organizations, depending on demand.
Unlike traditional banks, national trust banks do not take customer deposits or give out loans. Instead, they focus on protecting assets and providing fiduciary services, which means managing or safeguarding assets while acting in the best interest of clients. Circle said this structure fits its goal of building secure infrastructure for digital assets while operating under federal rules.
USDC plans move under federal oversight
The company also said the new charter is designed to support future plans for managing the reserves that back USDC, its U.S. dollar-pegged stablecoin. Bringing those reserves under federal oversight is expected to improve transparency and strengthen trust in the stablecoin.
Circle believes the move will make its digital asset infrastructure more secure while giving financial institutions greater confidence in using USDC.
“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,” Circle Co-Founder, Chairman and Chief Executive Officer Jeremy Allaire said.
More crypto firms seek banking approval
Meanwhile, the announcement comes at a time when more crypto companies are trying to work more closely with U.S. regulators.
Firms such as Ripple, BitGo, Crypto.com, have already received approval to expand their regulated banking operations.
Circle expands its global regulatory footprint
Circle is the issuer of USDC, the world’s second-largest U.S. dollar-backed stablecoin, with about $73.2 billion in circulation.
The company has also expanded its regulatory presence outside the United States. It has secured licenses or approvals in several markets, including the European Union under its Markets in Crypto-Assets (MiCA) framework, the United Kingdom, Singapore, Bermuda, Canada, and Abu Dhabi.
The OCC’s final approval gives Circle a stronger regulatory foundation in the United States and opens the door for the company to expand its custody services while continuing to build the infrastructure supporting USDC under federal oversight.
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