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A New York trust charter, issued to a Circle subsidiary, authorizes the entity to provide fiduciary and custody services under state banking law.
The grant brings the subsidiary inside New York's state banking supervisory framework. What the charter permits Two service lines are covered: fiduciary and custody.
Fiduciary capacity gives the subsidiary the legal standing to act as a representative for clients in an accountable, obligated role over assets in its care.
Custody services allow it to hold and safeguard those assets as a state-chartered institution subject to New York banking law. Together, those two functions define the operational scope of a New York trust company.
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