The OCC granted Circle Internet Group final approval on July 10, 2026, to establish First National Digital Currency Bank, N.A., operating as Circle National Trust. Circle is the first stablecoin issuer to hold a national trust bank charter. The application was submitted on June 30, 2025.
Circle National Trust will initially offer fiduciary digital asset custody for Circle and its affiliates. The charter enables future management of the USDC reserve under direct OCC supervision.
No federal agency has published final GENIUS Act implementing regulations as of July 11, 2026. The statutory deadline for rulemaking is July 18, 2026. The Act takes effect on January 18, 2027, regardless of whether rules are finalized.