Circle Is Granted a Trust Bank Charter From the OCC

• Key insight: Circle has now been granted a national trust bank charter from the OCC so it can manage custody of digital assets such as its USDC stablecoin.
• Expert quote: “Opening the national trust bank is a tremendous accomplishment for Circle and, for stablecoins, a step into the world of the GENIUS Act.” — FS Vector’s Jasper Sneff-Nanni
• Forward look: Circle is now authorized to open the trust bank for business and will do so likely within days of receiving the charter.

Stablecoin issuer Circle Group has received final approval from the U.S. Office of the Comptroller of the Currency to establish its national trust bank division.

Srouce: https://www.americanbanker.com/news/circle-is-granted-a-trust-bank-charter-from-the-occ