📢 Big Move from Circle: Applying for a U.S. Bank Charter

Circle Internet Group (NYSE: CRCL), the issuer of USDC, has officially applied for a U.S. national trust bank charter through the Office of the Comptroller of the Currency (OCC). The proposed “First National Digital Currency Bank, N.A.” would oversee a portion of USDC’s reserves and offer custodial services—marking a major step in Circle’s effort to bridge digital assets with the traditional financial system.

This application aligns Circle with the GENIUS Act, recently passed by the U.S. Senate, which aims to tighten oversight of stablecoin issuers. If approved, the charter would position Circle at the forefront of regulatory compliance in the stablecoin space.

💬 CEO Jeremy Allaire said: “This application reinforces our USDC infrastructure, aligning with U.S. regulations to build an open, efficient internet financial system.”

With a $43.75B valuation post-IPO and a global regulatory footprint already established, Circle’s move may set a precedent for other crypto firms aiming to operate within a fully regulated U.S. framework.

#USDC #Stablecoins #CryptoRegulation #Circle

Read the full story: ecoinimist.com/2025/07/01/circles-big-move-seeking-a-u-s-charter