Svmuu News: Stablecoin issuer Circle Internet Group has received approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national digital currency trust bank to further expand its stablecoin business. Circle stated that the OCC has approved the formation of an entity to be named “Circle National Trust.”The institution will operate under the federal trust bank regulatory framework, providing institutional-grade services to clients, including digital asset custody.
This approval means that Circle will move beyond USDC issuance and payment services to further enter the regulated digital asset custody sector, consolidating its regulatory framework under a single federal trust license. Circle CEO Jeremy Allaire has repeatedly emphasized that stablecoins are becoming critical infrastructure connecting traditional finance with the on-chain economy. The market views the acquisition of this banking license as a significant step in the company’s transformation from a stablecoin issuer to a financial infrastructure provider. (Bloomberg)