BNY Mellon adds USDC support to institutional custody

The Bank of New York Mellon announced on Monday, June 29, 2026, that it has expanded its partnership with Circle to offer institutional clients comprehensive stablecoin services, starting with support for Circle’s USD Coin (USDC). The move makes USDC the first stablecoin available on BNY’s Digital Asset Custody platform, allowing clients to store, transfer, create, and redeem the digital asset directly through the bank.

This new service enables institutional clients to hold USDC in BNY custody wallets and instruct the bank to convert U.S. dollars into newly minted USDC tokens or to redeem USDC back into dollars. The integration is designed to create a seamless bridge between traditional fiat currency and digital assets within a single, trusted institutional framework. The expansion builds upon BNY’s existing role as the primary custodian for the reserves backing USDC.

Carolyn Weinberg, BNY’s chief product and innovation officer, stated that as digital assets become increasingly integrated into financial markets, institutions require infrastructure that works seamlessly across both traditional and blockchain-based systems. Kash Razzaghi, Circle’s chief commercial officer, said...