{"id":310839,"date":"2026-07-31T16:17:17","date_gmt":"2026-07-31T16:17:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/310839\/"},"modified":"2026-07-31T16:17:17","modified_gmt":"2026-07-31T16:17:17","slug":"circle-adds-new-york-trust-charter-to-growing-slate-of-licenses","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/310839\/","title":{"rendered":"Circle Adds New York Trust Charter to Growing Slate of Licenses"},"content":{"rendered":"

A limited purpose trust company<\/a> is chartered under the bank and trust company provisions of New York banking law but without the general power to take deposits or make loans, according to the NYDFS website.<\/p>\n

PYMNTS reported in February that trust charters<\/a> can support custody and fiduciary-style activity, which is often the point for crypto, but they are not automatically the same as being an FDIC<\/a>-insured commercial bank.<\/p>\n

Circle said in the Friday press release that its new charter joins the BitLicense<\/a> the company received from NYDFS in 2015, deepens the regulatory foundation for Circle and its USDC<\/a> stablecoin, and provides regulatory clarity.<\/p>\n

\u201cNYDFS is an international standard setter for digital asset regulation, and New York is Circle\u2019s global headquarters,\u201d Circle Co-Founder, Chairman and CEO Jeremy Allaire<\/a> said in the release. \u201cThis charter reflects over a decade of regulatory commitment and positions USDC within a strong, respected framework as digital dollars become central to the global financial system.\u201d<\/p>\n

Circle Internet Group announced July 10 that it received final approval from the U.S. Office of the Comptroller of the Currency<\/a> (OCC) to establish a national trust bank<\/a>.<\/p>\n

The bank, First National Digital Currency Bank, N.A., will operate under the name Circle National Trust and will offer fiduciary digital asset custody services for Circle and its affiliates.<\/p>\n

\u201cFederal oversight of our trust bank sets a new standard for transparency, governance and scale for Circle\u2019s infrastructure and unlocks a new phase of adoption, where leading financial institutions can build on public blockchains with clarity and confidence,\u201d Allaire said at the time in a press release.<\/p>\n

Circle also has licenses or other regulatory approvals in the European Union, the United Kingdom, Singapore, Bermuda, Canada and Abu Dhabi Global Market.<\/p>\n

PYMNTS reported in May that during Circle\u2019s first-quarter earnings call, the stablecoin issuer<\/a> and digital asset infrastructure provider framed itself as an economic operating system being built for the future.<\/p>\n

\u201cCircle is an early-stage company just starting to execute our long-term strategy,\u201d Allaire said during the call. \u201cWe are entering a fundamentally different era of software-powered money \u2026 at internet scale and velocity.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"A limited purpose trust company is chartered under the bank and trust company provisions of New York banking…\n","protected":false},"author":2,"featured_media":310840,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[15359,10525,3312,9,11,10,12,31826,51645,117447,31827],"class_list":["post-310839","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-circle","tag-cryptocurrency","tag-digital-assets","tag-new-york","tag-new-york-headlines","tag-new-york-news","tag-news","tag-pymnts-news","tag-regulations","tag-stablecoins","tag-whats-hot"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/310839","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=310839"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/310839\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/310840"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=310839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=310839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=310839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}