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Circle National Trust launches as a U.S. trust bank for custody
The new trust bank begins with custody for Circle and affiliated entities, while Circle says deposits and lending are not part of the initial setup.
Circle National Trust, a newly launched U.S. trust bank for Circle, can open under its banking structure but cannot yet take ordinary deposits or make loans, according to CryptoSlate.
The trust bank is designed to start with custody arrangements for Circle and its affiliates, while other functions involving custody networks and reserve management for USDC are described as possible future expansions.
CryptoSlate notes that institutional custody for assets outside Circle’s trust setup and USDC reserve management remain open items, rather than capabilities included at launch.