Circle Bags NYDFS Trust Charter to Bolster USDC's Regulatory Framework

Circle has secured a New York trust charter from the NYDFS, solidifying its position as a regulated digital payment infrastructure. This move comes after the company's federal OCC approval for institutional use of USDC.

The new license will allow Circle to conduct fiduciary activities through an entity licensed and supervised by the NYDFS, expanding the regulatory framework around USDC.

Circle CEO Jeremy Allaire described obtaining the New York license as a long-standing strategic goal, noting that the NYDFS is considered an international benchmark for digital asset regulation.