Circle has applied for a national trust bank license in the U.S. following its successful IPO that valued the company at nearly $18 billion. If approved, the license would allow Circle to manage reserves, provide custody services for digital assets, but not accept cash deposits or make loans.

Circle Internet Group, Inc. has applied to the Office of the Comptroller of the Currency to establish a national trust bank, First National Digital Currency Bank, N.A., which would enhance USDC infrastructure, provide custody services to institutional clients, and align with the proposed GENIUS Act. If approved, this charter would represent a significant advancement in the integration of digital assets into the U.S. financial system.