CoinWorld news: Circle (CRCL) stock rose more than 6% on Friday after receiving approval to establish a trust bank. The U.S. Office of the Comptroller of the Currency (OCC) has authorized the stablecoin issuer to directly manage its reserve assets and serve institutional clients. Circle CEO Jeremy Allaire said the OCC approval for the establishment of the Circle National Trust marks an important step toward bringing blockchain technology and digital assets into the core of the U.S. financial system. The new entity, Circle National Trust, will operate under federal bank regulation. Despite the stock price jump on Friday, CRCL shares are still down 15% over the past 30 days.

CRCL4.90%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 6
  • 2
  • Share
Comment
Add a comment
Add a comment
GateUser-c25a653c
· 5h ago
The gains from Friday aren’t enough to fill the gap from the first half of the month—don’t rush in if you’re a retail investor.
View OriginalReply0
MevTeaTime
· 5h ago
Jeremy Allaire talks big, but the core issue is simple: Circle wants to be a middleman and profit from the spread.
View OriginalReply0
RugProofRita
· 5h ago
After getting the trust bank license, Circle is basically halfway through stepping into traditional finance this time.
View OriginalReply0
GateUser-4eae4cef
· 5h ago
An OCC nod means reserve assets can be managed independently without having to look at the bank’s face anymore—this move is brilliant.
View OriginalReply0
OldKeys,NewWorld
· 5h ago
A 6% gain looks exciting, but the real story is a 15% drop over 30 days, and the market hasn’t fully bought in yet.
View OriginalReply0
GateUser-b4b056d3
· 5h ago
Stablecoin issuers under federal regulation will likely be a scarce resource in the future.
View OriginalReply0
  • Pinned