BNY Mellon will be the primary custodian for Circle’s stablecoin, according to a recent announcement.
Circle has tapped BNY Mellon – one of the Wall Street giants leading the cryptocurrency adoption – to serve as the primary custodian of its stablecoin USD Coin – USDC.dated March 31 reads that the newly-established collaboration between the two parties will “facilitate an exchange of expertise on a range of topics across digital and traditional markets.”
“Our role as a custodian for USDC reserves supports the broader marketplace and brings value to clients, founded on our role at the intersection of trust and innovation.” – commented the CEO of Asset Servicing and Head of Digital at the bank – Roman Regelman.
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