Stablecoin issuer Apartment (NYSE:CRCL) shared: Office of the Comptroller of Foreign Exchange (OCC) has given final approval to operate the First National Digital Currency Bank. The bank is a national trust institution.
Circle filed with the OCC on June 30, 2025 and received a conditional approval in December 2025. The approval also symbolizes the change in policy between the previous administration and the current administration; the latter promotes digital asset innovation, and the previous administration tried to prevent it.
A national trust is different from a federally regulated commercial bank. A trust specializes in supporting financial institutions and managing assets and does not generally hold deposits or make consumer loans.
Circle states that this will strengthen its USDC operations, which is currently the second largest dollar-based stablecoin in the world.
In one version, Jeremy Allaire, Federal oversight sets a new standard for governance and unlocks a new phase of adoption where financial institutions can “build on public blockchains with openness and trust,” Circle’s founder and CEO said.
Circle has announced its intention to offer digital asset custody services for itself and its affiliates, such as banks and other financial institutions.
