Circle Internet Group, Inc. secured conditional approval from the Office of the Comptroller of the Currency (OCC). This approval allows the company to establish the First National Digital Currency Bank, N.A.
The new entity will operate as a federally regulated national trust bank. It will oversee the management of the USDC stablecoin reserve on behalf of Circle’s U.S. issuer. This establishment is expected to strengthen the infrastructure supporting USDC, the world's largest regulated stablecoin.
The move represents a significant step toward compliance with the GENIUS Act, which became law in July 2025. Circle submitted its application to the OCC on June 30, 2025. This action deepens the company's commitment to high standards of trust and regulatory oversight.