BNY Mellon Enables Institutions to Mint and Burn USDC Directly in Custody on June 29

According to BNY Mellon's announcement on June 29, 2026, the bank added USDC mint and burn capabilities to its Digital Asset Custody platform in partnership with Circle. Institutions can now hold USDC in custody wallets and instruct Circle to convert U.S. dollars into USDC or redeem it back to fiat within a single institutional framework. BNY oversees $59.3 trillion in assets under custody and administration, with over 90% of Fortune 100 companies among its clients, giving the stablecoin service immediate institutional scale. USDC is the first stablecoin supported on BNY's platform, with plans to expand to additional issuers over time.
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