Circle Internet Wins Crypto Bank Charter. Is It a Buy Again?

"In a major regulatory win for the cryptocurrency sector, the Office of the Comptroller of the Currency (OCC) has granted conditional approval for Circle Internet Group ( ) and Ripple to establish new national trust banks. The OCC also conditionally approved Paxos, BitGo, and Fidelity Digital Assets to convert their existing state trust licenses into national charters. These five approvals mark a significant step toward integrating digital asset firms into the federal banking system."

"This development aligns with the Trump administration's crypto-friendly policies, which emphasize supporting innovation in digital assets and blockchain technology. Through executive orders and regulatory shifts, the administration has aimed to provide clearer pathways for the industry, giving crypto companies broader access to traditional financial infrastructure while maintaining oversight. The application approvals help fulfill requirements under the recently enacted GENIUS Act for stablecoin issuers."

"For Circle, the issuer of one of the world's largest regulated stablecoin USDC ( CRYPTO:USDC ), this conditional charter for its proposed First National Digital Currency Bank enhances reserve management and opens doors to institutional custody services. After an IPO surge that saw the stock peak near $299 per share before retreating, Circle has lost more than 70% of its value from those highs. With shares now trading around $83, does this regulatory milestone make Circle a buy again?"

The Office of the Comptroller of the Currency granted conditional approval for Circle and Ripple to establish new national trust banks and approved Paxos, BitGo, and Fidelity Digital Assets to convert state trust licenses into national charters. The approvals integrate digital-asset firms into the federal banking system while maintaining federal supervision over custody and payment services. The developments align with administration policies favoring crypto innovation and create regulatory pathways under the GENIUS Act for stablecoin issuers. Circle's proposed First National Digital Currency Bank would strengthen reserve management and institutional custody capabilities, coinciding with a share-price decline of more than 70% from IPO highs.

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