Circle Secures Limited Purpose Trust License from NYDFS

Circle Internet Trust Company LLC received a limited purpose trust license from the New York State Department of Financial Services, expanding its regulatory footprint.

Woofun AI reports that Circle Internet Trust Company LLC, operating as Circle New York Trust, has been granted a limited purpose trust license by the New York State Department of Financial Services. This development follows Circle’s acquisition of an NYDFS BitLicense in 2015, marking a continuation of its long-standing regulatory engagement with the agency.

Circle co-founder and CEO Jeremy Allaire stated that securing this license was a long-term objective aimed at achieving regulatory clarity. He noted that the approval underscores the company’s decade-long commitment to compliance and ensures USDC operates within a recognized framework, aligning with New York’s status as a global hub for digital asset regulation.