A few weeks after we received final OCC approval to establish a National Trust Bank, @circle has now also received a limited purpose trust charter from the New York Department of Financial Services (NYDFS) 🇺🇸 Another major regulatory milestone! Huge congrats to all colleagues involved! More details:

Just in - @circle received final OCC approval to establish a National Trust Bank 🇺🇸 Circle received approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish First National Digital Currency Bank, N.A., a national trust bank. The bank will operate under the name Circle National Trust, placed under direct federal oversight by the primary U.S. regulator for national banks and national trust banks. Upon opening, Circle National Trust will offer fiduciary digital asset custody services for Circle and its affiliates. The charter is also designed to enable future capabilities, including management of the USDC Reserve, which would bring those operations under federal regulatory oversight and further enhance the safety, transparency, and trust of USDC. This represents a major U.S. regulatory milestone - huge congrats to all the colleagues involved! More details in our press release 👇