OCC Approves Circle's National Trust Bank Charter on July 10; Circle Shares Jump 11%

CRCL4.90%
USDC0.01%
According to Bloomberg, on July 10, the U.S. Office of the Comptroller of the Currency (OCC) approved Circle Internet Group's plan to establish Circle National Trust, a national digital currency trust bank for USDC custody and settlement. The approval grants Circle federal oversight under a single charter rather than state-by-state regulation. USDC, the world's second-largest stablecoin with a market capitalization of approximately $73.3 billion, will be supported through the new trust bank. Circle shares surged 11% in premarket trading following the announcement.
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