Circle Internet Financial Limited – which, according to its website, provides mobile apps aimed at helping greater ease-of-use in online and in-person payments as well as enhanced security and privacy for customers – obtained the first BitLicense granted by the New York State Department of Financial Services under its new BitLicense regulations adopted in June 2015. In general, NY’s BitLicense regulations require all financial intermediaries engaging in a virtual currency business to apply and obtain a so-called BitLicense, and to maintain certain minimum standards and programs to help ensure customer protection, cybersecurity and anti-money laundering compliance. (Click here for additional information in the article “NYDFS Issues BitLicense Framework for Regulating Virtual Currency Firms” in the June 7, 2015 edition of Bridging the Week.) Circle Internet is backed by Goldman Sachs, IDG Capital Partners, Breyer Capital, Oak Investment Partners and other investors.