Wu said it learned that Circle announced it has received the final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish First National Digital Currency Bank, N.A., a national trust bank, and to operate under the name Circle National Trust. After the institution opens, it will first provide custodial digital asset trust services for Circle and its related companies. In the future, it also plans to manage USDC reserves, and may offer custody services to a small number of banks and other regulated financial institutions. The stock price rose more than 7.7% in pre-market trading.