July 10 (Crypto-News.Net) – Circle said Friday the Circle OCC approval lets it establish First National Digital Currency Bank, N.A., a national trust bank that will operate as Circle National Trust.
Key Takeaways
- Circle says it received OCC approval to establish First National Digital Currency Bank, N.A.
- The bank will operate as Circle National Trust, according to the company.
- OCC records verify the application and a Dec. 12, 2025 conditional approval.
Circle said in the company's announcement that the bank will initially offer fiduciary digital asset custody services for Circle and its affiliates upon opening. The company said management of the USDC Reserve is planned as a future capability and that the bank may eventually offer custody services directly to a limited number of institutional customers.
Circle OCC approval records show application history
OCC Corporate Applications Search records list First National Digital Currency Bank, N.A. under control number 2025-Charter-342299. The entry identifies the application type as New Bank Charter and the transaction form as Charter National Bank Under Holding Company (Trust Bank).
The OCC record lists proposed charter number 25361, a proposed headquarters at 1 World Trade Center in New York, trust powers requested, a comment period from June 30, 2025, to July 30, 2025, and an approved filing status dated Dec. 12, 2025.
Circle said it submitted the application on June 30, 2025, and received conditional approval in December 2025. The OCC's Dec. 12, 2025, release said the agency conditionally approved de novo national trust bank charter applications for First National Digital Currency Bank and Ripple National Trust Bank, along with conversion applications involving BitGo, Fidelity Digital Assets and Paxos.
Circle says bank services start with affiliate custody
Circle's July 2026 announcement described the approval as final. The OCC's public records show the application record and the December 2025 conditional approval. The OCC's December conditional approval letter said the bank would not be an insured depository institution and would not issue stablecoins.
The December letter also said final approval and authorization for the bank to commence business would not be granted until preopening requirements were met. Circle's July 2026 statement said USDC Reserve management is planned as a future capability.
Circle Internet Group, Inc. is listed on the New York Stock Exchange under ticker CRCL. A SEC prospectus said the company's Class A common stock was approved for listing under that symbol.
The approval follows other national trust bank and stablecoin infrastructure developments. Crypto-News.Net reported Thursday on Sony Bank stablecoin trust's OCC approval, another recent charter-related story involving a digital-asset trust structure. Readers looking for background on Circle's dollar token can read Crypto-News.Net's guide to the USDC stablecoin.
Reporting by Zoran Spirkovski. Editing by Crypto-News.Net.
Sources
Circle – July 10, 2026 announcement describing final OCC approval, operating name, initial custody scope, possible limited institutional custody and future USDC Reserve capability. URL: https://www.circle.com/pressroom/circle-receives-final-occ-approval-to-establish-national-trust-bank
Office of the Comptroller of the Currency CAS – Charter application details, control number, proposed charter number, headquarters, trust powers, comment period and Dec. 12, 2025 approved status. URL: https://apps.occ.gov/CAS/home/details?FilingTypeID=2&FilingID=342299&FilingSubtypeID=1093
Office of the Comptroller of the Currency – Dec. 12, 2025 conditional approvals for national trust bank charter applications. URL: https://www.occ.gov/news-issuances/news-releases/2025/nr-occ-2025-125.html
Office of the Comptroller of the Currency conditional approval letter – Preliminary conditional approval, preopening requirements, non-insured depository institution status and stablecoin issuance limit. URL: https://www.occ.gov/news-issuances/news-releases/2025/nr-occ-2025-125a.pdf
U.S. Securities and Exchange Commission – Circle Internet Group Class A common stock listing under CRCL. URL: https://www.sec.gov/Archives/edgar/data/1876042/000119312525135795/d737521d424b4.htm
