Circle Internet Group, Inc. (NYSE: CRCL) announced it has received a limited purpose trust charter from the New York Department of Financial Services (NYDFS) for its subsidiary, Circle Internet Trust Company LLC, doing business as Circle New York Trust.

The charter adds to Circle's existing regulatory relationship with NYDFS, which began in 2015 when Circle claims it became the first company to receive a BitLicense from the agency.

"Earning a New York trust charter has been a longstanding objective for Circle given the regulatory clarity that comes with it," said Jeremy Allaire, Co-Founder, Chairman, and CEO of Circle. "NYDFS is an international standard setter for digital asset regulation, and New York is Circle's global headquarters. This 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."

Circle is the issuer of USDC, a dollar-denominated stablecoin. The company is headquartered in New York and trades on the NYSE.