Circle Internet Group ($CRCL) shares surged after the U.S. Office of the Comptroller of the Currency (OCC) granted the company final approval to establish a national bank, a move widely viewed as a major regulatory milestone for the stablecoin sector and a potential credibility boost for USD Coin (USDC).
The approval, announced after the regular session on July 10 ET, clears the way for Circle to launch ‘Circle National Trust’, a federally supervised trust bank. Market participants are treating the decision as the first time a major U.S. dollar stablecoin issuer has secured a federal banking… Read more
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