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FinTech firm Circle has formally filed a request to establish a federally regulated trust bank that will oversee USDC reserves and offer custodial services to institutional clients.
Circle Internet Group, Inc., the issuer of the stablecoins USDC and EURC, has submitted an application to the U.S. Office of the Comptroller of the Currency (OCC) to create the national trust bank First National Digital Currency Bank, N.A. If granted approval, the bank will obtain a federal trust charter, enabling Circle to integrate more deeply into the U.S. financial framework. The bank will be tasked with managing USDC reserves, issuing and circulating the digital dollar, and providing digital asset custody services to institutional clients.
Jeremy Allaire, CEO of Circle, remarked that the establishment of a national digital trust bank represents a significant step in building a transparent and accessible financial internet infrastructure. He pointed out that pursuing a federal charter will allow Circle to adhere to forthcoming regulatory standards and enhance the resilience of the U.S. dollar within the global digital economy.
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The press release underscores Circle’s successful history of acquiring essential licenses. The company was the first to obtain the BitLicense from the New York State Department of Financial Services (NYDFS) in 2015, became the first stablecoin issuer to align with the European MiCA regulation in 2024, and in February 2025, its stablecoins were the first to gain officially recognized crypto asset status at the Dubai International Financial Centre (DIFC).
At present, in addition to stablecoins, Circle provides a wide array of FinTech solutions for businesses and developers, incorporating blockchain technologies and stablecoins into commercial and payment processes globally.
For instance, in April 2025, Circle introduced a global payment network utilizing stablecoins for international transfers, known as Circle Payments Network (CPN). Two months later, Circle collaborated with FinTech company Matera to launch a solution that allows financial institutions in Brazil to settle payments in USDC stablecoins directly through existing bank accounts.
Сообщение Circle to Establish National Trust Bank in U.S. появились сначала на CoinsPaid Media.
