Circle secures New York limited purpose trust charter, further strengthening USDC's regulatory foundation

Odaily News, July 31 — Circle announced that the New York State Department of Financial Services (NYDFS) has granted a limited purpose trust charter to its subsidiary, Circle Internet Trust Company LLC.

Circle stated that this charter will further strengthen the regulatory foundation of the company and USDC, reflecting its ongoing commitment to security, transparency, and compliance standards.

Circle previously became the first company to receive a BitLicense from the New York State Department of Financial Services in 2015, establishing a long-term regulatory relationship with the agency.

Jeremy Allaire, co-founder, chairman, and CEO of Circle, stated that obtaining the New York trust charter has been a long-term goal for the company. The regulatory clarity brought by this charter will position USDC within a more recognized regulatory framework as the digital dollar gradually becomes an important component of the global financial system.