Anchorage Digital became the first digital-assets firm to receive an Office of the Comptroller of the Currency (OCC) charter in 2021, pioneering the regulatory pathway for crypto companies
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A federal trust charter would bring Circle under direct OCC oversight, aligning it with how traditional financial institutions are regulated. If approved, the new entity, which would be called First National Digital Currency Bank, N.A. would oversee custody of USDC reserves and offer services tailored to institutions. If approved, Circle would join the ranks of Anchorage Digital, which previously secured trust bank status to offer crypto-related services nationwide. Others, like Paxos and Protego, had previously attempted to follow suit but ultimately failed to convince the crypto-wary regulator before their provisional approvals lapsed.
Crypto platform Anchorage Digital was the first digital assets firm to receive an OCC charter back in 2021. BlackRock currently manages USDC reserves, which are held by BNY.
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