05:44 AM EDT, 07/01/2025 (MT Newswires) -- Circle Internet Group ( CRCL ) said late Monday it submitted an application to the Office of the Comptroller of the Currency to set up a national trust bank.

First National Digital Currency Bank would oversee the management of the USDC Reserve on behalf of the company's US issuer, if approved.

Circle Internet ( CRCL ) said a federally regulated trust charter would also help it meet projected requirements under the proposed GENIUS Act legislation, representing "a meaningful step forward" in integrating digital assets into the broader financial system in the US.

The company's shares were up 2.6% in recent premarket activity Tuesday.