Circle shares surge 13% on getting regulatory approval to set up US trust bank
Circle secured final regulatory approval from the OCC for its national trust bank. This allows the stablecoin issuer to manage its own reserves and client crypto assets. The charter places Circle's bank under direct federal supervision by the OCC. Digital asset firms are increasingly seeking traditional financial services and banking licenses. Circle is the issuer of USDC, a stablecoin pegged to the U.S. dollar.
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