Circle Secures NYDFS Trust Charter Amid Federal Bank Approval

Circle, a leading stablecoin issuer, has secured a New York trust charter from the NYDFS for Circle New York Trust.

The approval follows Circle's recent federal trust bank authorization from the U.S. OCC under a separate regulatory framework.

Jeremy Allaire, co-founder, chairman and CEO of Circle, stated that obtaining a New York trust charter has been a long-term objective due to the state's regulatory clarity.

Circle said the charter strengthens oversight for its USDC business and extends its decade-long relationship with the NYDFS, which began in 2015 when it became the first company to receive a BitLicense from the NYDFS.