Circle Pursues USDC Expansion with National Trust Bank License Application

Circle Internet Group Inc., the issuer of the USDC stablecoin, has filed an application for a national trust bank license with the Office of the Comptroller of the Currency. This strategic move aims to establish the First National Digital Currency Bank, which WOULD oversee USDC reserves. "Becoming a national trust company aligns with our commitment to trust and compliance," stated CEO Jeremy Allaire.

If approved, Circle would join Anchorage Digital as a federally chartered crypto custodian, potentially unlocking institutional capital flows into digital assets. The firm's custody services could further bridge traditional finance with crypto markets, supported by recent legislative advancements like the Genius Act.

This development comes amid increasing regulatory clarity under the current administration. Market analysts predict improved liquidity conditions should Circle secure the charter, reinforcing USDC's position in the digital asset ecosystem.