Circle Secures NYDFS Trust Charter for USDC Stablecoin
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 marks a significant expansion of Circle's regulatory framework and underscores its commitment to compliance and customer protection.
The approval follows Circle's long-standing relationship with NYDFS, dating back to 2015 when it became the first company to receive a BitLicense. According to Jeremy Allaire, Circle CEO, the trust charter provides greater regulatory clarity and places USDC within one of the world's most respected digital asset regulatory frameworks.
Circle said the charter demonstrates its continued commitment to safety, transparency, and regulatory compliance as digital dollars gain broader adoption. The company has been working towards this goal for some time, recognizing the importance of a trusted regulatory environment for stablecoins like USDC.