Circle Receives Final OCC Approval to Establish Circle National Trust

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According to ChainCatcher, Circle, the issuer of stablecoin USDC, received final approval from the U.S. Office of the Comptroller of the Currency (OCC) on July 10 to establish Circle National Trust, a national trust bank. The bank will be placed directly under federal OCC supervision. Upon opening, Circle National Trust will initially provide federally regulated digital asset custody and safekeeping services for Circle and its affiliated companies, with plans to expand services to select banking and financial institutions and eventually manage USDC reserves directly.
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