Circle Internet Group, the fintech company behind USDC, one of the world’s largest US dollar-backed stablecoins, has secured final approval from the Office of the Comptroller of the Currency to launch Circle National Trust, a federally regulated national trust bank that will oversee key parts of the company’s digital asset infrastructure.

According to a Friday announcement, the approval places the bank under direct OCC supervision and is expected to enhance the regulatory framework supporting USDC through federally regulated custody, with reserve management planned as a future capability.

Circle National Trust will initially provide fiduciary digital asset custody services for Circle and affiliated entities, the company noted. Under its approved business plan, the bank may later expand those services to a limited number of institutional customers, including banks and regulated financial institutions.

Circle also said the charter is designed to eventually allow management of the USDC Reserve within the national trust bank, bringing reserve operations under federal oversight.

The OCC approval marks one of Circle’s most important regulatory achievements to date and reflects the company’s strategy of operating within established financial regulatory frameworks.

The stablecoin issuer has steadily expanded its regulated presence globally, including obtaining approvals under the European Union’s MiCA framework and licenses across multiple international jurisdictions.