# 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.

- Published: 2026-07-12T05:29:56.328Z
- Canonical: https://polylog.news/crypto/2026-07-12/circle-wins-us-trust-bank-charter-that-custodies-reserves-bu
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [CryptoSlate](https://cryptoslate.com/circle-can-open-a-us-trust-bank-that-cannot-take-ordinary-deposits-or-make-loans/), [CoinDesk](https://www.coindesk.com/coindesk-news/2026/07/10/meta-s-chief-data-officer-says-agentic-commerce-is-the-next-tier-of-business)

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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