BNY has expanded its partnership with Circle to launch new institutional stablecoin services, allowing clients to custody, transfer, mint and burn USDC through BNY’s Digital Asset Custody platform, the company announced Monday.

BNY’s Digital Asset Custody platform provides institutional investors with regulated custody and servicing for digital assets such as bitcoin, ether and tokenized securities. Designed to bridge traditional finance and blockchain, it integrates digital asset custody with banking services including payments, liquidity management and operational support.

The offering makes Circle’s flagship stablecoin the platform’s first supported stablecoin and extends BNY’s role as custodian of USDC reserves.

According to the company, clients can now hold USDC in BNY custody while directing Circle to issue or redeem tokens against US dollars, creating a direct connection between traditional cash management and digital asset custody.

BNY said the integrated platform is designed to support institutional adoption of digital assets by bringing blockchain-based transactions into existing financial workflows, with plans to support additional stablecoins over time.