Japanese investment bank Mizuho reiterated its neutral rating on Circle, saying OCC approval for a national trust bank doesn't address slowing USDC growth or rising competition.

Circle won final OCC approval to establish a national trust bank, allowing it to place USDC reserves under federal oversight and expanding its regulated digital asset custody…

Circle receives OCC approval for a national trust bank, boosting confidence in USDC. Bitcoin above $56K on July 13, 2026 at 99.9% YES.