Circle receives national trust bank charter: How stablecoin issuers are gradually becoming banks
Circle received final OCC approval to establish Circle National Trust, a National Trust Bank. Its USDC stock closed up ~5.7% on the news. The GENIUS Act, signed July 2025, requires stablecoin issuers to obtain a Permitted Payment Stablecoin Issuer status, mandating 1:1 asset backing and prohibiting interest payments.
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