Jul. 1 at 6:22 PM
$CRCL $BK $STT Circle Internet Group is pushing to establish the First National Digital Currency Bank, a national trust bank to manage its USDC stablecoin (USDCUSD) and offer digital-asset custody. This move, pending approval from the U.S. Office of the Comptroller of the Currency (OCC), would increase regulatory oversight but provide clearer regulatory alignment and broader market access.
Since its IPO on June 5 at
$31, CRCL shares have surged over 516%, recently rising 5.3% after midday trading. Analyst Jeff Cantwell (Seaport Research) says the trust bank would help Circle meet new regulations, such as the proposed Genius Act, and strengthen its position against traditional trust banks.
Other market moves: Bank of New York Mellon (BK) -0.9%, State Street (STT) +1.24%.
