Circle Internet Group Receives Conditional Approval From OCC To Establish National Trust Bank, First National Digital Currency Bank

Conditional approval marks key milestone toward GENIUS Act compliance and strengthens USDC infrastructure

Circle Internet Group, Inc. (NYSE:CRCL), one of the world's leading internet financial platform companies, today announced that it has received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a national trust bank, First National Digital Currency Bank, N.A.

Once fully approved, First National Digital Currency Bank would operate as a federally regulated trust bank, subject to OCC oversight, and would oversee the management of the USDC Reserve on behalf of Circle's U.S. issuer. The conditional approval represents an important milestone in Circle's efforts to further strengthen the infrastructure supporting USDC1 – the world's largest regulated stablecoin – and meet requirements under the GENIUS Act, which became U.S. law in July 2025.

As a national trust bank, Circle's First National Digital Currency Bank would enhance the safety and regulatory oversight of the USDC Reserve, while enabling Circle to offer fiduciary digital asset custody and related services to institutional customers. The charter would also help Circle further align its U.S. operations with global regulatory standards for stablecoins and digital financial infrastructure.