Stablecoin issuer Circle has filed for the establishment of a national trust bank in the United States
2025-06-30 21:03:37
Stablecoin issuer Circle (CRCL. K) is applying to establish a national trust bank in the United States. The application is a key follow-up to its initial public offering earlier this month, which valued the company at nearly $18 billion. If the Office of the Comptroller of the Currency (OCC) approves the license, Circle will be able to act as custodian of its own reserves and hold crypto assets on behalf of institutional clients. But unlike traditional banks, the license does not allow Circle to take cash deposits or make loans. Currently, crypto platform Anchorage Digital is the only digital asset company with a national trust bank license. Experts and analysts say that once the bill is signed into law, it could pave the way for more traditional Financial Institution Groups and retailers to incorporate stablecoins into their businesses.
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