BNY Adds USDC To Digital Asset Custody Platform In Expanded Partnership With Circle

Financial technology company Circle has expanded its partnership with global financial services provider BNY to introduce new stablecoin capabilities for institutional clients. Under the initiative, USD Coin (USDC) becomes the first stablecoin supported on BNY’s Digital Asset Custody platform.

The integration allows institutional clients to store, transfer, mint and redeem USDC directly through BNY’s custody infrastructure. Clients will be able to convert U.S. dollars into USDC and redeem USDC for dollars through instructions processed between BNY and Circle, enabling stablecoin issuance and redemption within the same institutional custody framework.

Institutional Stablecoin Infrastructure Expands

The launch also expands BNY’s existing role as the primary custodian of USDC reserves. By combining digital asset custody with fiat cash management, the platform is designed to support the full lifecycle of institutional stablecoin transactions while providing a single operating environment for both traditional and blockchain-based assets.

BNY said the new capabilities are intended to meet growing institutional demand for infrastructure that connects conventional financial systems with digital asset networks. The company added that it plans to extend support to additional stablecoin issuers and broader digital cash workflows over time.

The stablecoin services form part of BNY’s Digital Assets platform, which is designed to provide institutional clients with custody, cash management and governance tools for blockchain-based financial activities.

Circle said the expanded partnership strengthens connectivity between traditional financial infrastructure and on-chain assets while making USDC the first stablecoin available through BNY’s new institutional custody offering. The company also highlighted its focus on regulatory compliance as a factor supporting the integration.

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