Circle said it has received final approval from the U.S. Office of the Comptroller of the Currency, or OCC, to establish a national trust bank called Circle National Trust. According to the company, the new entity will initially provide digital asset custody services for Circle and its affiliates. It may later expand those services to selected institutional clients based on demand. Circle said the approval brings USDC custody infrastructure deeper into the U.S. federal regulatory framework. The company also said the structure could later support USDC reserve management, which it expects would improve security, transparency, and compliance. The announcement was reported by TechFlowPost on July 10, citing official information from Circle.
Circle said it has received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank, Circle National Trust.
According to the company, the institution will first provide digital asset custody services for Circle and its affiliates. It may later open those services to selected institutional clients depending on demand.
USDC custody framework moves under federal oversight
Circle said the approval will bring USDC custody infrastructure further into the U.S. federal regulatory framework. The company added that the structure could later support USDC reserve management, with the aim of improving security, transparency, and compliance.
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