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Morning Edition · Sunday, July 12, 2026Published at 1:29 AM EDT · New York
Circle Wins US Trust-Bank Charter That Custodies Reserves but Cannot Take Deposits or Lend
Circle National Trust begins by holding assets for Circle and affiliates, part of a competition among payments and banking firms to control the reserves and settlement systems behind dollar stablecoins.
Circle, the issuer of the USD Coin (USDC) stablecoin, can now operate a national trust bank in the United States, but with a deliberately narrow mandate, CryptoSlate reported. Circle National Trust starts with custody for Circle and its aff…
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Race to Bank and Distribute Stablecoin Reserves
Over 3-6 months, established financial and payments firms compete to custody stablecoin reserves and embed stablecoin rails into cross-border settlement, institutionalizing the plumbing beneath stablecoins.
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