Circle Internet Group, Inc. (NYSE: CRCL), a global financial technology company and a leading issuer of stablecoins, has formally submitted an application to the Office of the Comptroller of the Currency (OCC) to establish a national trust bank, First National Digital Currency Bank, N.A.If approved, First National Digital Currency Bank, N.A. would operate as a federally regulated trust institution, subject to OCC oversight. Its responsibilities would include overseeing the management of the USDC Reserve on behalf of Circle’s U.S. issuer and providing digital asset custody services to institutional customers. This move is anticipated to strengthen the infrastructure supporting the issuance and circulation of USDC, which is described as the world’s largest regulated payment stablecoin. Additionally, a federally regulated trust charter is expected to assist Circle in meeting requirements outlined in the proposed GENIUS Act legislation, aiming to further integrate digital assets into the U.S. financial system.Jeremy Allaire, Circle Co-Founder, Chairman, and CEO, stated that establishing such a national digital currency trust bank represents a significant step towards their objective of building a transparent, efficient, and accessible internet financial system. He added that the application is a proactive measure to enhance USDC infrastructure and align with emerging U.S. regulations for dollar-denominated payment stablecoins. According to Mr. Allaire, this alignment can extend the reach and resilience of the U.S. dollar and support the development of market-neutral infrastructure for global institutions.Circle’s application to the OCC follows its history of pursuing key licenses and authorizations globally. The company secured the first NYDFS BitLicense in 2015 from the New York Department of Financial Services (NYDFS), a prominent digital asset regulator in the U.S. In 2024, Circle became the first global stablecoin issuer to comply with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. More recently, in April 2025, Circle received in-principle approval from the Financial Services Regulatory Authority of the Abu Dhabi Global Market (ADGM) to operate as a money services provider.Circle (NYSE: CRCL) is a global financial technology firm focused on enabling businesses to utilize digital currencies and public blockchains for payments, commerce, and financial applications. The company aims to build a widely used stablecoin network, issuing USDC and EURC stablecoins through its regulated affiliates. Circle offers a suite of financial and technology services to integrate stablecoins and blockchains into enterprise products and operations.