Circle Subsidiary Granted Limited Purpose Trust License by the New York Department of Financial Services

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Circle’s subsidiary, Circle Internet Trust Company LLC, has been granted a limited-purpose trust license by the New York Department of Financial Services, strengthening USDC’s regulatory foundation. This move supports compliance with CFT (Countering the Financing of Terrorism) requirements and enhances liquidity in crypto markets. Circle, which first received a BitLicense in 2015, said the license aligns with its long-term objectives. CEO Jeremy Allaire noted that the license will help position USDC within a robust regulatory framework as digital dollars gain global momentum.

BlockBeats news: On July 31, 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 security, transparency, and compliance standards. In 2015, Circle became the first company to receive a BitLicense from the New York State Department of Financial Services, establishing a long-term regulatory relationship with the agency.


Jeremy Allaire, co-founder, chairman, and CEO of Circle, said that obtaining the New York trust charter has long been the company’s goal, and the regulatory clarity it provides will position USDC within a strong and recognized regulatory framework as the digital dollar increasingly becomes a core component of the global financial system.

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