Circle Internet Group (NYSE: CRCL) said on July 10 that it received final approval from the U.S. Office of the Comptroller of the Currency to establish a national trust bank, a step that brings the infrastructure behind USDC under direct federal banking supervision.

Circle Receives Final OCC Approval to Establish National Trust Bank

Circle secures OCC conditional approval to charter First National Digital Currency Bank, N.A., bringing USDC reserve management under federal oversight.