Circle Pursues Federal Trust Charter to Strengthen USDC Regulatory Framework

USDC News - Circle Internet Financial has filed an application for a national trust bank charter with the Office of the Comptroller of the Currency. This strategic initiative aims to bring its USDC stablecoin operations under direct federal oversight, streamlining compliance by eliminating state-by-state licensing requirements. The charter WOULD also enable new institutional custody services. The move coincides with advancing stablecoin legislation, including the GENIUS Act currently under Congressional consideration. Securing federal status would position Circle alongside other crypto-native firms like Paxos and Anchorage that operate under banking regulations. CEO Jeremy Allaire stated: "This enhances USDC's infrastructure to support the next wave of digital asset adoption."