Circle Secures Limited Purpose Trust Charter From New York Financial Regulator

Circle Internet Group has received a limited purpose trust charter from the New York Department of Financial Services for its subsidiary, Circle Internet Trust Company LLC, doing business as Circle New York Trust.

Charter Builds on Decade-Long Regulatory Ties

The approval extends a regulatory relationship between Circle and New York that dates back to 2015, when the company became the first to receive a BitLicense from NYDFS. The stablecoin issuer said the new charter reflects its ongoing commitment to safety, transparency and compliance standards.

CEO Calls Charter a Long-Sought Milestone

Jeremy Allaire, co-founder, chairman and CEO of Circle, said earning a New York trust charter had been a long-standing goal for the company given the regulatory clarity it provides. He noted that NYDFS is widely viewed as a global standard setter for digital asset regulation and that New York serves as Circle’s headquarters.

Allaire added that the charter positions USDC, Circle’s stablecoin, within a well-established regulatory framework as digital dollars take on a larger role in the global financial system.