Circle announced it has secured final approval from the U.S. Office of the Comptroller of the Currency (OCC) to set up First National Digital Currency Bank, N.A., a national trust bank operating under the name Circle National Trust. Upon launch, the institution will initially provide fiduciary digital asset custody services for Circle and its affiliates. It plans to manage USDC reserves in the future and may offer custody services to a small group of banks and other regulated financial institutions. The company’s stock jumped more than 7.7% in pre-market trading at one point.