BlockBeats News, June 29th, according to official sources, Circle's USDC will become the first supported stablecoin on BNY Mellon's digital asset custody platform, a global financial services company. The two parties have deepened their cooperation on institutional-grade stablecoin services. BNY clients can now hold USDC in their digital asset custody wallets and can instruct BNY to mint USDC from dollars held or redeem USDC for dollars, covering the full lifecycle of institutional stablecoin business.

Circle's Chief Business Officer, Kash Razzaghi, stated that this collaboration is an extension of the long-standing relationship between the two parties, bridging the gap between on-chain assets and traditional assets for BNY clients. In the future, both parties plan to extend this capability to more stablecoin issuers and digital cash workflows.