#Circle Pursues National Trust Bank Charter Following Record IPO Success


Circle has applied for a U.S. national trust bank license to manage $USDC reserves and provide institutional custody.


The charter would make Circle only the second crypto firm with national banking privileges after Anchorage Digital.


First National Digital Currency Bank would handle Circle's stablecoin reserves, currently managed by BlackRock and BNY.


The move follows Circle's $18 billion IPO valuation earlier this month.


Unlike traditional banks, the license excludes cash deposits and lending capabilities.


Circle plans to focus on tokenized stocks and bonds custody over traditional cryptocurrencies.


Wall Street coverage launched with mostly bullish ratings despite elevated valuation concerns as #StablecoinRegulation advances and #CircleIPO momentum continues.

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June 30, 2025 at 11:28 PM
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