{"id":7473,"date":"2025-07-01T16:21:34","date_gmt":"2025-07-01T16:21:34","guid":{"rendered":"https:\/\/stoxpo.com\/?p=7473"},"modified":"2025-07-01T16:21:34","modified_gmt":"2025-07-01T16:21:34","slug":"circle-applies-for-u-s-trust-bank-charter-to-strengthen-stablecoin-strategy","status":"publish","type":"post","link":"https:\/\/stoxpo.com\/index.php\/2025\/07\/01\/circle-applies-for-u-s-trust-bank-charter-to-strengthen-stablecoin-strategy\/","title":{"rendered":"Circle Applies for U.S. Trust Bank Charter to Strengthen Stablecoin Strategy"},"content":{"rendered":"\n

Move comes amid rising Wall Street interest and pending legislation that could push the stablecoin market to $2 trillion<\/h4>\n\n\n\n

Circle (CRCL), issuer of the USDC stablecoin, has applied to the Office of the Comptroller of the Currency (OCC) for a national trust bank charter, aiming to establish the First National Digital Currency Bank, N.A.<\/strong> The proposed trust bank would give Circle the authority to custody and manage reserve assets for its stablecoins, though it won\u2019t be allowed to accept cash deposits or issue loans.<\/p>\n\n\n\n

\u201cEstablishing a national digital currency trust bank marks a significant milestone in our goal to build an internet financial system that is transparent, efficient and accessible,\u201d said Circle CEO Jeremy Allaire.<\/p>\n\n\n\n

If approved, Circle would join Anchorage Digital as one of the only crypto firms with such a license. Currently, Circle\u2019s stablecoin reserves are held by Bank of New York Mellon and managed by BlackRock. A national charter would provide Circle greater control over these reserves\u2014key as U.S. stablecoin legislation nears.<\/p>\n\n\n\n

The application comes at a pivotal moment for the $253 billion stablecoin industry. With legislation such as the GENIUS Act<\/strong> and the Clarity Act<\/strong> expected to reshape the regulatory landscape, major institutions from JPMorgan to Mastercard are positioning themselves to enter the space.<\/p>\n\n\n\n

Stablecoins, unlike other cryptocurrencies, are designed to maintain a fixed value and are typically backed 1:1 with cash and Treasuries. Treasury Secretary Scott Bessent recently told lawmakers the U.S. stablecoin market could top $2 trillion by 2028 if legislation is passed.<\/p>\n\n\n\n

Circle, which went public earlier this month and is up 470% since its IPO, is widely viewed as a key player in the future of digital finance. Bernstein recently initiated coverage on Circle, calling it a \u201cmust-hold\u201d stock, and forecasting the global stablecoin market could grow to $4 trillion in the next decade.<\/p>\n\n\n\n

You might like this article:Robinhood Launches Tokenized Stocks in EU, Expands Crypto Offerings Globally<\/mark><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Move comes amid rising Wall Street interest and pending legislation that could push the stablecoin market to $2 trillion Circle (CRCL), issuer of the USDC stablecoin, has applied to the Office of the Comptroller of the Currency (OCC) for a national trust bank charter, aiming to establish the First National Digital Currency Bank, N.A. The […]<\/p>\n","protected":false},"author":2,"featured_media":2744,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"8","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar-narrow","sidebar":"author","second_sidebar":"single-right","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"0","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_social_meta":{"fb_title":"","fb_description":"","fb_image":"","twitter_title":"","twitter_description":"","twitter_image":""},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"jnews_post_split":{"enable_post_split":"0","post_split":[{"template":"1","tag":"h2","numbering":"asc","mode":"normal","first":"0","enable_toc":"0","toc_type":"normal"}]}},"categories":[372,318,315,370,483,369,314,361],"tags":[419,745,722,421,416,418,417],"coauthors":[454],"_links":{"self":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/7473"}],"collection":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/comments?post=7473"}],"version-history":[{"count":1,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/7473\/revisions"}],"predecessor-version":[{"id":7474,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/7473\/revisions\/7474"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/media\/2744"}],"wp:attachment":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/media?parent=7473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/categories?post=7473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/tags?post=7473"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/coauthors?post=7473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}