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Shares of Circle Internet Group (NYSE:CRCL | CRCL Price Prediction) are up 13% in early Friday trading to $71.44, rebounding sharply from Thursday's $63.01 close.

Stablecoin issuer Circle surged in premarket trading after the U.S. Office of the Comptroller of the Currency granted it approval to operate as a trust bank. The approval gives the company the ability to directly manage reserves for its regulated stablecoins, primarily the USDC stablecoin.

Coinbase Global Inc. (NASDAQ:COIN) shares are trading higher Friday in sympathy with Circle Internet Group Inc. (NYSE:CRCL) after that company announced the U.S. Comptroller of the Currency approval to open a national trust bank.

NEW YORK--(BUSINESS WIRE)--Circle Internet Group, Inc. (NYSE: CRCL), one of the world's leading internet financial platform companies, today announced that it has received approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish First National Digital Currency Bank, N.A., a national trust bank. The bank will operate under the name Circle National Trust. OCC approval of a national trust…

Optical Cable's higher sales volumes are boosting profitability, with operating leverage lifting margins and returning the company to net income in Q2.