The Office of the Comptroller of the Currency has granted Circle final approval to establish a national trust bank, bringing the USDC issuer under direct federal supervision. The charter allows Circle to hold the reserves backing its USDC stablecoin within a federally regulated framework, a move aimed at strengthening oversight and transparency of its operations. Beyond reserve management, the approval enables Circle to expand its regulated digital asset custody business, positioning the company to offer institutional-grade services under national banking rules. The decision represents a significant regulatory milestone for a major stablecoin issuer, potentially setting a precedent for how digital asset firms integrate with the traditional banking system. It also reflects growing efforts by crypto companies to secure clearer legal standing amid evolving U.S. regulatory frameworks for stablecoins and custody services.
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