Circle Secures NYDFS Trust Charter for USDC Business

Circle has expanded its regulatory footprint in New York after receiving a trust charter from the NYDFS for Circle New York Trust. This authorization comes just weeks after Circle secured federal trust bank approval from the OCC under a separate regulatory framework.

The charter strengthens oversight of USDC business and extends Circle's decade-long relationship with the NYDFS, which began when it became the first company to receive a BitLicense in 2015. Circle co-founder Jeremy Allaire described the NYDFS as an international standard setter for digital asset regulation, placing USDC within a strong and respected regulatory framework.

The trust charter is separate from the federal OCC approval, which established a national trust bank. The two approvals together expand Circle's regulatory footprint without replacing one another, operating under different legal frameworks.