BNY Mellon Adds USDC Minting and Redemption to Institutional Custody Platform, Deepening Ties with Circle

News Editor

2026-06-29 16:10:09

BNY Mellon has added USDC minting and redemption support to its institutional digital asset custody platform. This move deepens the bank's partnership with Circle and reinforces its role as the primary custodian of USDC reserves. It marks a significant step by a traditional banking giant into regulated stablecoin infrastructure.

BNY Mellon has integrated USDC minting and redemption capabilities into its institutional digital asset custody platform. This development further solidifies the bank's strategic partnership with Circle, the issuer of USDC, and reinforces BNY's position as the primary custodian of USDC reserve assets.

BNY Mellon Adds USDC Minting and Redemption to Institutional Custody Platform, Deepening Ties with Circle 2

As one of the world's largest custodian banks, BNY's provision of on-chain minting and redemption services for USDC to institutional clients signals that legacy financial institutions are accelerating their adoption of regulated stablecoin infrastructure. USDC, a dollar-pegged stablecoin subject to regulatory oversight, benefits from having its reserves held by top-tier custodians like BNY, thereby enhancing market transparency and trust.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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