Posted by Colin Lambert. Last updated: July 1, 2026
BNY has expanded its existing relationship with Circle by adding new stablecoin enablement capabilities to its digital assets custody solution.
BNY, which is the primary custodian for Circle’s USDC coin, says institutional clients will now be able to mint, burn, store and transfer USDC on the platform. Specifically, the bank allows clients to store their USDC on the custody platform and instruct BNY to mint (buy), burn (sell) and transfer the stablecoins.
The bank says the new capabilities support the full lifecycle of institutional stablecoin activity, creating a direct link between fiat and digital asset custody services within a single institutional framework. Over time, it adds, it plans to expand support to additional stablecoin issuers and digital cash workflows.
“As digital assets become increasingly integrated into financial markets, institutions need infrastructure that seamlessly works across traditional and blockchain-based systems,” says Carolyn Weinberg, chief product & innovation officer at BNY. “With the addition of our enhanced stablecoin enablement capabilities, we’re expanding the ways clients can move value with the operational scale, trust and resiliency they expect from BNY.”
Kash Razzaghi, chief commercial officer at Circle, adds, “This is the next chapter in a longstanding relationship that now gives BNY clients connectivity between on-chain and traditional assets, within the infrastructure they already trust.”