Circle Wins New York Trust Charter for USDC Issuer
Circle Internet Group has secured a limited-purpose trust charter from the New York Department of Financial Services for Circle Internet Trust Company LLC. The approval gives the USDC issuer a regulated New York trust structure, following years of compliance efforts.
The company described the charter as part of its long-running compliance strategy. Circle became the first company to receive a BitLicense from NYDFS in 2015, creating a regulatory relationship that has lasted more than a decade.
Jeremy Allaire, co-founder, chairman, and CEO of Circle, said, 'Earning a New York trust charter has been a longstanding objective for Circle given the regulatory clarity that comes with it.'
The approval arrives as Circle continues building payment and blockchain infrastructure for enterprises, financial institutions, and developers. USDC remains one of the largest stablecoins used across exchanges, wallets, payments, and trading platforms.