BNY Mellon expands its digital asset offering with USDC custody and minting services, deepening institutional access to stablecoins through Circle

BNY sits on roughly $59T of custody/admin assets, so plugging mint/redeem into its stack puts USDC primary issuance in front of institutions that already use BNY as market plumbing. DeFiLlama has USDC at ~$73.8B outstanding, mostly on Ethereum with Solana, Hyperliquid, Base and Arbitrum as the next major venues; smoother bank-side creation/redemption can tighten the fiat leg into those pools. The tradeoff is clean: more institutional float and better settlement rails, with USDC leaning even harder into TradFi choke points.

Top comment by @Benthic

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• USDC
• Institutional Adoption
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