Circle Secures New York Limited-Purpose Trust Charter for USDC Stablecoin

New York authorities granted Circle a limited-purpose trust charter on Jul 31, 2026, creating Circle New York Trust as a regulated entity for the firm's USDC stablecoin operations. Under the new charter, Circle can hold the multibillion-dollar reserves backing USDC itself, under direct supervision of New York financial regulators, rather than relying on third-party commercial banks. Circle first obtained a New York BitLicense in 2015.

The state charter now operates alongside a federal national trust charter conditionally approved by the OCC. CEO Jeremy Allaire said the charter "firmly integrates USDC into a recognized legal framework." Ripple received similar NYDFS approval for its RLUSD stablecoin in December 2024. Despite the regulatory milestone, shares of Circle Internet Group (NYSE: CRCL) fell to $60.78 during intraday trading on Jul 31, 2026, erasing prior session gains.