Circle becomes the first company to receive a BitLicense

Circle announced it has become the first company to receive a BitLicense from the New York State Department of Financial Services (NYDFS).

The company will now be able to serve customers in New York under the divisive regulatory framework, applications for which closed on 8th August.

Circle also announced it will rebrand as currency-agnostic service Circle Pay.

The new service will allow US customers to hold, send and request dollars from their contacts and refuel their account by bank transfer or credit card.

“You can enjoy the benefits of bitcoin without ever holding or buying bitcoin yourself, and without being exposed to bitcoin price volatility,” said Circle.

Circle is a consumer Internet company focused on transforming the world economy with technology for storing and using money.