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On December 12, 2025, the Office of the Comptroller of the Currency (OCC) made a landmark decision to conditionally approve the national trust bank charter applications of five leading cryptocurrency companies. This marks the formal inclusion of crypto assets into the U.S. federal financial regulatory framework, opening a new chapter of deep integration with traditional finance.

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Approved companies and their significance
The companies that received 'conditional approval' include Ripple, Circle, BitGo, Fidelity Digital Assets, and Paxos. Among them, Circle and Ripple received approval for the newly established national trust bank, while BitGo, Fidelity, and Paxos were permitted to upgrade their existing state trust licenses to national licenses. OCC Chairman Jonathan Gould stated that the addition of new members benefits consumers, the banking industry, and the entire economy, ensuring that the financial system keeps pace with the times.

This is a historic moment. CIRCLE has transformed from a technology company into an American financial infrastructure! The safety of holding USDC is equivalent to holding U.S. dollars. Institutions, pension funds, and interbank transactions all equate USDC to U.S. dollars. This is the first stablecoin bank in human history!!!
Here is a view I shared in the research group a few days ago. Earlier, there was a payment company that started from the overseas study group, Revolut, which after reaching a certain stage in its business development, obtained a banking license. Now Circle is in a similar position! Congratulations to Circle!
The Office of the Comptroller of the Currency (OCC): The OCC is the primary regulator of the U.S. 'federal banking system,' specifically monitoring 'nationally chartered banks.' But please note, the OCC does not oversee all banks; it only regulates 'nationally chartered banks,' usually indicated by names containing 'National / N.A.' These are licensed by the federal government and can operate across state lines nationwide! For example, some well-known names include JPMorgan Chase Bank, N.A.; Citibank, N.A.; Bank of America, N.A.; Wells Fargo Bank, N.A.; Goldman Sachs Bank USA, etc. Most of the core banking entities among the top ten commercial banks in the U.S. fall under the OCC.