Circle wins US trust bank charter from OCC, shares jump premarket
The US Office of the Comptroller of the Currency granted stablecoin issuer Circle approval to operate as a national trust bank. Circle's shares rose more than 5% in premarket trading following the announcement, as competition among stablecoin issuers intensifies.
The US Office of the Comptroller of the Currency (OCC) has granted stablecoin issuer Circle approval to operate as a national trust bank, a regulatory milestone that formalizes the company's position within the federally supervised banking system. The move comes as US regulators continue to refine oversight of the fast-growing digital-asset sector.
Shares of Circle rose more than 5% in premarket trading following the announcement. The company, which issues the USDC stablecoin, has pushed for clearer federal banking status as competition among stablecoin issuers has intensified in recent months, with rivals also seeking similar regulatory footholds in the United States.
A national trust bank charter allows Circle to custody its reserves and offer certain banking-adjacent services directly under federal oversight, rather than relying solely on a patchwork of state-level licenses. Analysts said the approval could set a precedent for how other stablecoin issuers pursue comparable federal recognition in the months ahead.
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