Circle Secures NYDFS Trust Charter, Bolstering USDC's Regulatory Framework
Circle Internet Group has secured a limited-purpose trust charter from the New York Department of Financial Services (NYDFS) for its subsidiary Circle Internet Trust Company LLC, doing business as Circle New York Trust. This regulatory milestone comes weeks after Circle received final approval from the Office of the Comptroller of the Currency (OCC) to establish a national trust bank.
The new charter strengthens Circle's regulatory foundation in New York and bolsters the company's compliance with US regulations. It also positions USDC, Circle's stablecoin, as an established financial framework within a strong, respected framework.
Circle has a long history of regulatory engagement with New York, having secured the first NYDFS BitLicense in 2015. The new charter builds on this foundation and is expected to facilitate wider institutional and global adoption of USDC.