Circle Pursues National Trust Bank Charter Amid JPMorgan’s Bearish Outlook

BTCC / BTCC Square / Global Cryptocurrency /

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2025-07-01 02:55:01

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Circle, the issuer of stablecoin USDC, has filed an application with the Office of the Comptroller of the Currency to establish the First National Digital Currency Bank. The proposed trust charter WOULD enable Circle to self-custody its USDC reserves and provide digital asset custody services for institutional clients—though it would not accept traditional deposits or issue loans.

The MOVE comes as JPMorgan analysts project a 55% decline in Circle's stock price to $80, citing market headwinds. CRCL shares closed at $181 on Monday, down 39% from their all-time high. "This charter strengthens USDC's infrastructure," CEO Jeremy Allaire stated, framing the initiative as a proactive step toward regulatory alignment.

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