Circle Secures New York Trust Charter, Strengthening USDC Regulatory Foundation

Circle Internet Group, Inc. secured a limited purpose trust charter from the New York Department of Financial Services (NYDFS).

The new entity, Circle Internet Trust Company LLC, will operate as Circle New York Trust. This charter deepens the regulatory foundation for the company’s USDC stablecoin.

CEO Jeremy Allaire identified the charter as a longstanding objective for the firm. The NYDFS acts as an international standard-setter for digital asset regulation.

This approval expands on a partnership that began with Circle’s first BitLicense in 2015.