Svmuu News: Stablecoin issuer Circle announced that its USDC has officially become the first supported stablecoin on global financial services firm BNY’s digital asset custody platform, and the two parties will comprehensively deepen their institutional-grade stablecoin business cooperation.Leveraging BNY’s custody system, institutional clients can securely hold USDC in custodial wallets while using BNY to submit instructions to Circle to complete the entire process—from minting USDC from U.S. dollars to redeeming USDC for U.S. dollars—thus fully covering the entire lifecycle of institutional stablecoin operations.
Circle Chief Commercial Officer Kash Razzaghi stated that this collaboration is an extension of the long-standing partnership between the two parties, establishing a channel for the flow of digital assets on-chain and traditional financial assets. Moving forward, both parties will continue to expand their services, integrate more stablecoin issuers, and enrich institutional digital cash business processes.