Stablecoin issuer. Hype stock. Crypto giant. Circle Internet Group now has another title in its sights: bank. Circle has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish a national trust bank called First National Digital Currency Bank,

If the national bank regulator grants Circle approval, it plans to spin up a national trust bank called First National Digital Currency Bank, N.A. Such a charter would allow the crypto firm to custody and manage the reserve assets behind its own stablecoins and offer other fiduciary services.