Quartz·1 min read·medium
Circle won federal approval to operate as a trust bank — and its stock surged
✦AI Summary
Circle has received federal approval to operate as a trust bank, bringing its USDC reserve infrastructure under direct regulatory oversight. This move also enables the company to expand its service offerings to include digital asset custody.
The approval places Circle's USDC reserve infrastructure under direct federal oversight and allows the company to offer digital asset custody services
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