BNY Mellon Launches End‑to‑End USDC Mint‑Burn Services for Institutional Clients

Bank of New York Mellon (BNY) has added full mint, transfer, redemption and holding capabilities for Circle’s USD Coin (USDC) to its Digital Asset Custody platform. Institutional clients can now convert U.S. dollars into USDC and redeem the stablecoin back into fiat within the bank’s regulated environment, eliminating the need to use separate on‑chain and off‑chain systems.

The service builds on BNY’s existing role as the primary custodian of USDC reserve assets and is available to the bank’s vast client base, which includes more than 90% of Fortune 100 companies and $59.3 trillion in assets under custody as of end‑2025. BNY plans to extend the offering to additional stablecoin issuers over time. The rollout coincides with advancing U.S. stablecoin legislation such as the GENIUS Act, and Circle’s shares rose about 1.9 % on the announcement. USDC remains the world’s second‑largest dollar‑denominated stablecoin, with roughly $73.8 billion in circulation.