Circle stock pops after stablecoin issuer wins approval to establish a trust bank
Ines Ferré· Senior Business Reporter
Updated Sat, July 11, 2026 at 1:32 AM GMT+5:30
1 min read
- CRCL
+4.97% - USDC-USD
-0.00%
What happened:Circle (CRLC) stock surged 4% on Friday
What’s behind the move: Circle said it received regulatory approval to establish its own national trust bank, reducing its reliance on outside banks
The US Office of the Comptroller of the Currency (OCC) has authorized the stablecoin issuer to directly manage its reserve assets and provide digital asset custody services for institutional clients
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66.14+3.13(+4.97%)
At close: 4:00:02 PM EDT
The new entity, Circle National Trust, will operate under direct federal banking oversight
“OCC approval to establish Circle National Trust marks a defining step in bringing blockchain technology and digital assets into the core of the U.S. financial system,” Circle CEO Jeremy Allaire said in a statement
What else you need to know: Until now, the cash and short-term US Treasurys backing Circle’s flagship stablecoin, USDC (USDC-USD), have been held by third-party banking partners
With its new trust bank charter, Circle will be able to eventually hold those multibillion-dollar reserves under its own federally regulated custody
The approval also removes a key regulatory hurdle, making it easier for banks, asset managers, and other institutional investors to use Circle’s infrastructure for digital asset custody and blockchain-based payments
Ines Ferre is a Senior Business Reporter for Yahoo Finance covering the US stock market, publicly traded companies, and commodities
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