Key insight: Circle confirmed that it formally opened its trust bank subsidiary ahead of its quarterly earnings release on Wednesday. Circle confirmed that it formally opened its trust bank subsidiary ahead of its quarterly earnings release on Wednesday. Circle Internet Group has officially opened Circle National Trust in preparation for future stablecoin regulation. Circle was granted both a national trust bank charter from the OCC earlier this month and a limited-purpose trust charter from the State of New York last week . Open Standard is a recently announced stablecoin venture that is planning to issue a blockchain-agnostic dollar-backed stablecoin, Open USD, later this year.