Circle received final approval from the Office of the Comptroller of the Currency on July 10 to establish Circle National Trust, legally named First National Digital Currency Bank, N.A., as a federally chartered national trust bank focused on fiduciary digital-asset custody rather than traditional banking. The charter does not permit ordinary deposits, lending, checking or savings accounts, or FDIC-insured retail banking services. Circle said the entity will initially provide custody for Circle and its affiliates under direct OCC supervision, may later expand custody to a limited number of institutions such as banks and other regulated financial organizations, and could eventually move USDC reserve management into the trust bank. The approval places Circle among a small number of crypto-native firms with an OCC national trust charter and gives the USDC issuer greater federal oversight of infrastructure supporting its roughly $73.3 billion stablecoin business, though distribution, liquidity and competition remain unresolved.