According to Reuters, the stablecoin company Circle has applied to the Office of the Comptroller of the Currency (OCC) to establish a national trust bank called "First National Digital Currency Bank, N.A." as part of its expansion of Financial Services after going public. If approved, the license will allow Circle to self-custody USDC reserves and provide digital asset custody services for institutional clients, but will not include the authority to accept deposits or distribute loans. Circle stated that in the future, custody will focus on assets such as tokenized stocks and bonds, rather than traditional Crypto Assets.