USDC Issuer Circle Applies for US National Trust Bank License
USDC stablecoin issuer Circle has applied for a license to establish its own national trust Bank in the US. According to a Monday announcement, Circle is looking to establish First National Digital Currency Bank. The USDC issuer has formally submitted an application to the Office of the Comptroller of the Currency (OCC). JUST IN: USDC issuer Circle applies for national trust bank license in the US. pic.twitter.com/P6k4rRn0su — Watcher.Guru (@WatcherGuru) June 30, 2025 If approved, First National Digital Currency Bank, N.A. would be authorized to operate as a federally regulated trust institution, subject to OCC oversight. The bank would oversee the management of the USDC Reserve on behalf of Circle’s U.S. issuer. In addition, a federally regulated trust charter would help Circle meet expected requirements under the proposed GENIUS Act legislation. The stablecoin regulation bill mandates $1 reserves for every $1 of stablecoins and compliance with anti-money-laundering rules....