BNY Mellon has added USDC minting and redemption capabilities to its institutional digital asset custody platform. The move strengthens the bank's existing role as the primary custodian of USDC reserves and further cements its strategic partnership with Circle. It represents a significant step by a traditional banking giant into direct stablecoin infrastructure integration.
BNY Mellon has integrated USDC minting and redemption features into its institutional digital asset custody platform, allowing clients to directly create and redeem Circle's USDC stablecoin. This expansion builds on the bank's existing role as the primary custodian of USDC reserves — a position established through prior agreements with Circle. By enabling on-platform stablecoin minting and redemption, BNY Mellon effectively bridges traditional custody infrastructure with the growing stablecoin ecosystem. For institutional investors, this simplifies access to USDC supply management without requiring interaction with external platforms. The move also signals deeper convergence between traditional finance (TradFi) and the stablecoin sector, as major custodians increasingly embed native crypto functionality.
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