Circle Granted Approval to Operate as Trust Bank
Stablecoin issuer Circle received approval from the U.S. Office of the Comptroller of the Currency (OCC) to operate as a trust bank under the name 'Circle National Trust.' This allows it to directly manage reserves for its stablecoins, primarily USDC, which has over $73 billion in circulation. The company's shares rose nearly 5% following the announcement.
Topics: crypto regulation financial infrastructure stablecoins