Circle Lands New York Charter to Bolster USDC Oversight

Circle Internet Trust Company LLC has been granted a limited-purpose trust charter by the New York Department of Financial Services. The approval allows Circle to operate as Circle New York Trust and expands its regulated framework in the US.

The company received the charter after working with NYDFS for over a decade. In 2015, Circle became the first business to receive a BitLicense from the same department.

Circle CEO Jeremy Allaire said that the new charter supports safety, transparency, compliance, and customer protection. He also noted that NYDFS has built a respected approach to digital asset oversight and safeguards.