Circle shares jump 8.4% as USDC issuer secures New York trust charter
Circle has been quietly building one of the most comprehensive regulatory frameworks in the US stablecoin industry — and on July 31, 2026, it added another major piece to that puzzle. The company received a Circle New York trust charter from the New York Department of Financial Services (NYDFS), a move that positions the USDC issuer firmly within the state’s official banking infrastructure.
Key takeaways
- Circle received a limited-purpose trust charter from the NYDFS on July 31, 2026, and will operate as Circle New York Trust under New York banking law.
- The charter allows Circle to offer fiduciary and digital asset custody services but prohibits accepting customer deposits or making loans.
- The approval builds on Circle’s 2015 BitLicense — the first ever granted by NYDFS — expanding its regulated standing in New York.
- The US Office of the Comptroller of the Currency also approved Circle to establish a national trust bank earlier in July 2026, adding a federal-level layer to its regulatory structure.
- Circle also acquired IBM’s blockchain patent portfolio, adding nearly 1,000 patents for use across USDC, the Circle Payments Network, and the Arc blockchain.
Circle Secures the New York Limited-Purpose Trust Charter
The NYDFS granted Circle Internet Group a limited-purpose trust charter, making it an officially state-chartered trust company under New York banking law. Operating under the name Circle New York Trust, the company joins a group of crypto firms — including Coinbase, Moonpay, Bitgo, and Paxos — that have secured the same authorization from the NYDFS.
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