The Office of the Comptroller of the Currency granted Circle final approval to establish a national trust bank, allowing the stablecoin issuer to operate its USDC business under a single federal regulatory framework rather than a patchwork of state-level licenses. The charter covers Circle's $73.2 billion in circulating stablecoins and could streamline compliance while boosting institutional confidence in the company's reserves and governance. News of the approval sent Circle's stock higher, reflecting investor optimism about the firm's expanding regulatory footing. The move positions Circle among a small group of crypto companies pursuing federal banking oversight, a strategy that may set precedent for how stablecoin issuers integrate with the traditional financial system. It also arrives amid broader efforts in Washington to define clearer rules for digital assets and dollar-pegged tokens.
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