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The bank that Alexander Hamilton helped found in 1784 just took another step into the future of money. BNY Mellon has integrated USDC into its Digital Asset Custody platform, making Circle’s dollar-backed stablecoin the first of its kind supported on the institutional custody offering.
The move expands a relationship between BNY and Circle that has been quietly building for years.
What the integration actually means
The integration allows institutional clients to hold and transfer USDC alongside other digital assets within a regulated custodial environment. Institutions can move between traditional bank accounts and USDC for minting and redemption activities without leaving BNY’s infrastructure.
BNY launched its Digital Asset Custody platform on October 11, 2022, initially supporting Bitcoin and ether for institutional clients. Adding USDC represents the platform’s first expansion into stablecoins.
A partnership years in the making
Circle selected BNY Mellon as the primary custodian for USDC reserves back on March 31, 2022. In January 2026, the bank highlighted stablecoin interoperability, specifically referencing USDC, for real-time on-chain settlements.
BNY’s stablecoin ambitions aren’t limited to Circle’s product either. The bank serves as reserve custodian for multiple stablecoins, including Societe Generale’s USD CoinVertible, which it began supporting in June 2025.
Why this matters beyond BNY
The integration enables seamless transactions between traditional bank accounts and USDC. The ability to mint and redeem USDC within the same custodial relationship where institutions hold equities and bonds collapses significant operational complexity.
BNY is clearly betting that the regulatory trajectory favors stablecoins backed by transparent reserves held at regulated institutions, which happens to describe USDC’s structure.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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