Circle Internet Group (NYSE:CRCL) surged 12% in premarket trading on Friday after the Office of the Comptroller of the Currency (OCC) granted final approval to establish Circle National Trust, a federally regulated national trust bank.

What The OCC Approval Actually Unlocks

The charter places Circle National Trust under direct federal oversight by the OCC, the same primary regulator that oversees national banks. 

At launch, the bank offers fiduciary digital asset custody services for Circle and its affiliates.

Depending on demand, it may eventually extend custody to a limited number of institutional customers, focusing on banks and other regulated financial institutions.

USDC Reserve management was the original goal of Circle’s June 2025 application, but that capability comes later rather than at launch. 

Once it moves under federal oversight, it would bring Circle’s reserve operations into the same regulatory framework as traditional national banks, adding another layer of transparency to the $73.2 billion stablecoin.

“OCC approval to establish Circle National Trust marks a defining step in bringing blockchain technology and digital assets into the core of the U.S. financial system,” said Circle CEO Jeremy Allaire. 

The charter does not permit Circle to accept cash deposits or make loans, but it does allow the firm to hold customer assets under strict fiduciary standards.

Circle Joins A Growing Queue Of Crypto Firms Winning Federal Charters

Circle filed its application in June 2025 and received conditional approval in December alongside Ripple (CRYPTO: XRP), BitGo, Fidelity Digital Assets, and Paxos. 

The queue has since widened to include Coinbase (NASDAQ:COIN), Crypto.com, Payward, Charles Schwab, Morgan Stanley (NYSE:MS), Citadel-backed EDX, and the Trump-backed World Liberty Financial (CRYPTO: WLFI) among others. 

BitGo received full OCC approval in December, and Anchorage Digital Bank had been the only crypto firm with a national trust charter before that, granted back in 2021.

However, Senator Elizabeth Warren (D-Mass.) pushed back on the OCC’s approach, arguing that some companies receiving national trust charters do not qualify under the National Bank Act.

ARK Invest Bought $13.7M In CRCL The Day Before The Announcement

Cathie Wood’s ARK Invest purchased $13.7 million worth of Circle shares on Thursday, the session before Friday’s announcement.

At the same time, the firm sold $9.8 million worth of Robinhood (NASDAQ:HOOD) shares.

CRCL’s Chart Shows Improving Momentum But Heavy Overhead Supply

CRCL sits 3% below its 20-day SMA at $72.92 and roughly 24% to 26% below the 50-day, 100-day, and 200-day SMAs all clustered in the low-to-mid $90s. 

A death cross formed in June when the 50-day SMA crossed below the 200-day, keeping the longer-term trend heavy.

Key resistance sits at $77 before the stock gets anywhere close to reclaiming its moving averages. 

Support at $65 marks the recent zone where buyers stepped in after July’s weakness.

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