Circle Wins US Regulatory Approval to Launch Crypto-Focused National Bank

Circle Internet Group, the company behind the USDC stablecoin, has received approval from the US Office of the Comptroller of the Currency to launch a crypto-focused national bank, a milestone that pulls blockchain infrastructure further into the regulated core of the American financial system. Shares in the fintech rose more than 13% on the news. Chief executive Jeremy Allaire described the approval as a defining moment in bringing blockchain technology into the heart of finance, and the company said the new bank strengthens the infrastructure supporting USDC, the largest regulated stablecoin in circulation. A national trust charter would allow Circle to custody reserves and manage settlement functions under direct federal banking supervision rather than relying on third-party institutions, potentially reducing counterparty risk and giving institutional clients greater confidence. Other digital-asset names, including Coinbase and Strategy, also gained on the announcement. The approval lands amid a broader shift in US policy toward bringing stablecoins and digital-asset firms inside the regulatory perimeter, and it is likely to intensify competition between traditional banks and crypto-native firms over payments and settlement.