Circle up after Reuters report on co's national trust bank license application

Stablecoin firm Circle's CRCL.N shares rise 2% to $184.19 after the bell

CRCL is applying to create a national trust bank in the U.S., after its blockbuster IPO earlier this month that valued it at nearly $18 billion, Reuters exclusively reports

If the charter is granted, it would enable CRCL to act as a custodian for its own reserves and hold crypto assets on behalf of institutional clients

CRCL's national trust bank entity would be called First National Digital Currency Bank, N.A.

Up to last close, CRCL had risen 116.8% from its IPO on June 5