BNY Mellon Expands Circle Partnership, Adds USDC Minting and Redemption on June 30

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According to The Block, on June 30, BNY Mellon expanded its partnership with Circle by adding USDC minting and redemption functionality to its digital asset custody platform. Institutional clients can now hold USDC in their BNY digital wallets and execute two-way conversions between U.S. dollars and USDC. USDC is the first stablecoin supported on the platform, with initial availability on Ethereum and Solana chains. BNY Mellon previously served as a primary custodian for USDC reserves.
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