Circle Applies for National Trust Charter to Launch Digital Currency Bank

Circle has applied for a national trust charter to create First National Digital Currency Bank, N.A., which would manage USDC reserves and offer digital asset custody for institutions. If approved by the OCC, the move would align Circle with upcoming U.S. stablecoin legislation, such as the GENIUS Act. The application follows Circle’s June IPO, which tripled its share price and boosted its valuation above $18 billion, as well as recent regulatory approvals in the EU and Abu Dhabi supporting its global compliance push.