By Isaac • June 29, 2026 5:34 pm •
Circle announced on June 29, 2026 that BNY has expanded its relationship with the company and added institutional-grade stablecoin enablement services.
USDC will be the first stablecoin on BNY’s Digital Asset Custody platform, according to Circle. Clients of the bank will be able to store, transfer, mint and burn USDC through that platform.
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That last part is the real story. Custody alone would be a token-holding feature.
Adding mint and burn means BNY clients can move dollars in and out of USDC at the bank level, where issuance and redemption actually happen.
For crypto readers, this is the difference between a bank holding a coin and a bank wiring itself into the lifecycle of the coin.
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