Circle Wins OCC Approval for National Trust Bank, CRCL Stock Jumps 10%

Circle Internet Group (NYSE: CRCL) has secured approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish Circle National Trust, officially named First National Digital Currency Bank, N.A. (FNDCB). The milestone marks a significant step for the stablecoin issuer, strengthening its regulatory standing in the U.S. and sending CRCL stock up about 10% in premarket trading.

The newly approved national trust bank will operate under direct federal oversight, allowing Circle to provide digital asset custody services for fiduciary purposes to the company and its affiliates. Under the OCC-approved business plan, Circle also has the flexibility to expand custody services to select institutional clients, including banks and regulated financial institutions, depending on market demand.

The trust bank is expected to play a key role in the future management of USDC reserves while enhancing transparency, governance, and regulatory compliance. By operating within the U.S. federal banking framework, Circle aims to strengthen confidence in its stablecoin infrastructure and support broader institutional adoption of blockchain-based financial services.

Circle Co-Founder and CEO Jeremy Allaire described the OCC approval as a major milestone for integrating blockchain technology into the U.S. financial system. According to Allaire, federal oversight of Circle’s trust bank establishes a higher standard for transparency and governance while giving financial institutions greater confidence to build services on public blockchain networks.

The approval follows Circle’s June 30, 2025, application for the national trust charter and a conditional approval received in December 2025. It also adds to the company’s growing list of regulatory achievements worldwide. Circle previously became the first company to obtain a New York BitLicense in 2015 and the first global stablecoin issuer to comply with the European Union’s Markets in Crypto-Assets (MiCA) framework in 2024. The company also holds regulatory licenses in the United Kingdom, Singapore, Bermuda, Canada, and Abu Dhabi.

Investor sentiment improved following the announcement, with CRCL shares climbing 10.25% to $69.47 in premarket trading after closing the previous session down 1.65% at $63.01. The rebound comes after the stock had fallen roughly 20% over the past month amid concerns surrounding the launch of the OUSD stablecoin and ongoing legal challenges.