Leading stablecoin issuer Circle announced on the 31st that the New York State Department of Financial Services (NYDFS) has granted a limited purpose trust license to its newly established trust company, Circle Internet Trust Company (commonly known as Circle New York Trust).
A limited purpose trust license allows the holder to specialize in the custody and management of assets, with the system generally prohibiting the acceptance of deposits or the issuance of loans.
This license enables...
