Circle Seeks National Trust Bank Charter to Bolster USDC Operations

Circle Internet Financial, the issuer of the USDC stablecoin, has formally applied for a national trust bank charter with the U.S. Office of the Comptroller of the Currency. The proposed First National Digital Currency Bank WOULD focus exclusively on reserve custody and fiduciary services, diverging from traditional banking functions like deposits or lending.

If approved, Circle would join Anchorage Digital as one of the few crypto firms holding this regulatory distinction. The move signals growing institutional maturation in digital asset markets, with stablecoin issuers seeking federally supervised frameworks for reserve management.

Market reaction appeared cautiously optimistic, with Circle's CRCL stock gaining 6.2% before a modest pre-market pullback. The company maintains a $46.7 billion valuation, underscoring investor confidence in regulated crypto-financial hybrids.