# Circle Wants a Bank Charter

*Author: Bankless*
*Published: Jul 1, 2025*
*Source: https://www.bankless.com/read/circle-wants-a-bank-charter*

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Circle is seeking approval for a national trust bank charter to oversee its USDC stablecoin reserves, aiming to strengthen compliance and infrastructure.

## **What’s the Scoop?**
- **National Trust Charter**: Circle has applied to the OCC for a federal trust charter for greater control over its USDC reserves.
- **Compliance Focus**: The charter aims to align USDC operations with the GENIUS Act and strengthen regulatory compliance.
- **Institutional Custody**: The move would enable Circle to take custody of assets under OCC oversight, though lending activities would not be permitted.
- **Market Implications**: Circle's proactive regulatory steps could bolster USDC’s role in the U.S. digital financial system.