Circle (CRCL), the stablecoin issuer, has formally applied with the Office of the Comptroller of the Currency (OCC) to get a national trust bank charter, it said in a press announcement late Monday. If the national bank regulator grants Circle approval,

Stablecoin issuer. Hype stock. Crypto giant. Circle Internet Group now has another title in its sights: bank. Circle has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish a national trust bank called First National Digital Currency Bank,

Circle is seeking approval from the OCC to establish a national trust bank to oversee its USDC stablecoin reserves.