BNY Mellon integrates USDC on custody platform

BNY Mellon adds USDC to its custody platform, letting institutions store, transfer, mint, and redeem USDC within its regulated infrastructure.

BNY Mellon has expanded its partnership with Circle by integrating USDC as the first stablecoin supported on its Digital Asset Custody platform. This allows institutional clients to store, transfer, mint, and redeem USDC directly within BNY Mellon's regulated custody infrastructure, alongside traditional assets. Clients can seamlessly convert U.S. dollars to USDC and redeem USDC for dollars without leaving BNY Mellon's platform, eliminating the need for external exchanges. This integration builds on their 2022 relationship, when BNY Mellon became a primary custodian of USDC reserves. The platform now supports the full lifecycle of institutional stablecoin transactions, combining digital asset custody and cash management in a unified environment. BNY Mellon aims to meet growing institutional demand for infrastructure that bridges traditional finance and digital assets, with plans to support more stablecoins and digital cash workflows in the future.