Circle Nets NYDFS Trust Charter as Stablecoin Adoption Grows

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, which will operate as Circle New York Trust. This milestone strengthens Circle's regulatory framework and reaffirms its commitment to compliance and customer protection.

The company's long-standing relationship with NYDFS dates back to 2015 when it became the first to receive a BitLicense. This latest approval follows Circle's recent achievement of obtaining approval from the US Office of the Comptroller of the Currency (OCC) to establish First National Digital Currency Bank, N.A.

Circle CEO Jeremy Allaire said the trust charter has been a key strategic goal as it provides greater regulatory clarity and places USDC within one of the world's most respected digital asset regulatory frameworks.