Circle Wins OCC Approval For National Trust Bank, Shares Jump 7.7% Premarket
The post Circle Wins OCC Approval For National Trust Bank, Shares Jump 7.7% Premarket appeared on BitcoinEthereumNews.com. Circle shares vaulted more than 7.7% in Friday’s pre-market session after the company behind the USDC stablecoin announced it had received final approval from the U.S. Office of the Comptroller of the Currency to form a federal trust bank devoted to digital asset custody. The newly approved entity, called First National Digital Currency Bank, N.A., will operate as Circle National Trust, according to the original report from WuBlockchain. For now, the bank will provide fiduciary custody services to Circle and its affiliates, but the charter opens a door that none of the other large stablecoin issuers have walked through yet. From State-Level Trusts to a Federal Perimeter Most digital asset custody firms in the US operate under state trust charters—firms like Anchorage, Paxos, and others. A national trust bank charter from the OCC carries a different weight. It pulls