EL7.AI
CryptoMediumUpdated×3•Originally published 1 July 2026•Updated 2 July 2026•
2 min read

BNY Launches Institutional Custody for Circle’s USDC Stablecoin

Key Facts

1BNY has launched new capabilities allowing institutional clients to work with stablecoins, starting with Circle's USDC.

In a move reflecting the accelerating adoption of digital assets by major financial institutions, BNY has launched new capabilities allowing institutional clients to work with stablecoins. This initiative begins with support for Circle's USDC, marking the first digital asset of its kind to be integrated into the bank's platform. The expansion aims to bridge traditional banking with blockchain-based systems and meet rising institutional demand for digital asset services.

This development occurs amid intensifying competition in the digital custody sector, as BNY seeks to leverage its position as the oldest U.S. bank to capture market share. Compared to peers, market data shows that institutions like State Street and JPMorgan have also been exploring similar solutions, but BNY's integration of USDC is a significant milestone given the bank's massive assets under custody. Per market data, this trend reinforces the role of stablecoins as a legitimate financial settlement tool.

Regarding market performance, BK stock stood at $139.65 at close June 03, 2026, after reaching a session high of $141.23. Investors are now looking ahead to the U.S. Core PCE Price Index data scheduled for June 25, a critical economic catalyst for the financial sector. Additionally, upcoming speeches from Fed officials Bowman and Goolsbee will be closely monitored for any monetary policy shifts that could impact large-cap banking stocks.

Latest Updates · 3

  1. Notable·

    Update: Competition in the stablecoin sector has intensified as Standard Chartered partnered with Circle to launch USDC minting and redemption services for institutional clients. Initially launching in Dubai’s DIFC, the move signals a strategic expansion of institutional digital asset infrastructure into the Middle East.

  2. Notable·

    Update: The adoption of stablecoins has expanded to other global banks, with Standard Chartered announcing the launch of USDC minting and redemption services for institutional clients in partnership with Circle. This move strengthens digital liquidity integration within the traditional banking system, signaling a broader shift in how major financial institutions manage crypto assets.

  3. Notable·

    Update: Institutional adoption of USDC has expanded as Standard Chartered announced a partnership with Circle to provide minting and redemption services. This move aims to provide institutional investors with direct access and enhanced liquidity efficiency, further cementing USDC's role as critical infrastructure in the global financial system.