Circle obtains a limited-purpose trust license from the New York State Department of Financial Services, further strengthening the regulatory foundation for USDC

Circle announced that the New York State Department of Financial Services has granted its subsidiary Circle Internet Trust Company LLC a limited purpose trust charter. This charter will further strengthen the regulatory foundation of the company and USDC.

Circle stated that the New York trust charter reflects the company's commitment to safety, transparency, and compliance standards. In 2015, Circle became the first company to obtain a BitLicense from the New York State Department of Financial Services, thereby establishing a long-term regulatory relationship with the agency.

Circle co-founder, chairman, and CEO Jeremy Allaire stated that obtaining the New York trust charter has always been a long-term goal for the company, and the regulatory clarity brought by this charter will place USDC within a strong and recognized regulatory framework as digital dollars increasingly become a core component of the global financial system.