Circle Bags NYDFS Trust Charter for USDC

Circle Internet Group has secured a limited purpose trust charter from the New York Department of Financial Services (NYDFS) for Circle Internet Trust Company LLC, doing business as Circle New York Trust. This regulatory approval allows Circle to operate as a regulated trust company under the New York Banking Law.

The charter permits Circle New York Trust to oversee the reserves backing USDC and provide digital asset custody services to institutional customers.

Circle CEO Jeremy Allaire said, 'a longstanding objective for Circle given the regulatory clarity that comes with it,' adding that 'NYDFS is an international standard setter for digital asset regulation.'

This charter reflects over a decade of regulatory commitment by Circle and positions USDC within a strong, respected framework as digital dollars become central to the global financial system.