Circle’s USDC Becomes First Stablecoin Supported by BNY Mellon for Institutional Clients

The Bank of New York Mellon (BNY), the oldest bank in the United States, has expanded its partnership with Circle to introduce new stablecoin services for institutional clients.

Circle’s USDC will become the first stablecoin supported on BNY’s Digital Asset Custody platform under the arrangement. This will allow BNY clients to store, transfer, mint, and burn USDC through the bank’s custody services.