Circle Secures New York Charter for Expanded USDC Oversight
Circle Internet Group has strengthened its presence in the US market after receiving a limited-purpose trust charter from the New York Department of Financial Services. The approval allows Circle Internet Trust Company LLC to operate as Circle New York Trust, expanding the company's regulated framework in line with growing stablecoin adoption.
The new charter places Circle's New York operations under a trust framework, giving the company another regulated structure for supporting USDC and digital dollar services. This move comes after Circle received approval from the US Office of the Comptroller of the Currency to establish First National Digital Currency Bank, N.A.
Circle CEO Jeremy Allaire said that the New York trust charter had remained a long-term goal for the company. He noted that NYDFS has built a respected approach to digital asset oversight and safeguards, which aligns with Circle's commitment to safety, transparency, compliance, and customer protection.