Circle Internet Group has submitted an application for a national bank charter under the US Office of the Comptroller of the Currency (OCC), according to Reuters.
The move positions the stablecoin issuer to custody its own reserves and serve institutional crypto clients—though without deposit or lending authority.
The planned entity, First National Digital Currency Bank, N.A., would operate under federal supervision. Circle had previously denied interest in trust or industrial bank licenses, suggesting a focused strategy on OCC approval.
The news follows Circle’s June 5 IPO, where shares (priced at $31) surged 167% in a historic debut, reflecting market confidence in its hybrid crypto-traditional finance model.
