BNY Expands Relationship with Circle and Adds to Institutional-Grade Stablecoin Enablement Services

BNY to Provide Comprehensive Stablecoin Services Combining Custody with Mint and Burn Capabilities

NEW YORK - June 29, 2026 - BNY (NYSE: BNY), a global financial services company, today announced an expanded relationship with Circle Internet Group, Inc. (NYSE: CRCL) as part of new stablecoin enablement capabilities for institutional clients. Circle's USDC will be the first stablecoin on BNY's Digital Asset Custody platform, enabling BNY clients to store, transfer, mint and burn USDC.

This launch expands BNY's role as primary custodian of USDC reserves. BNY clients can now hold USDC in their digital asset custody wallets at BNY, and through BNY they can instruct Circle to convert ("mint") U.S. dollars into USDC and to redeem ("burn") USDC for U.S. dollars. These capabilities support the full lifecycle of institutional stablecoin activity, creating a direct link between fiat and digital asset custody services within a single institutional framework. Over time, BNY plans to expand support to additional stablecoin issuers and digital cash workflows.

"As digital assets become increasingly integrated into financial markets, institutions need infrastructure that seamlessly works across traditional and blockchain-based systems," said Carolyn Weinberg, Chief Product & Innovation Officer at BNY. "With the addition of our enhanced stablecoin enablement capabilities, we're expanding the ways clients can move value with the operational scale, trust and resiliency they expect from BNY."

BNY's stablecoin enablement capabilities are part of its integrated Digital Assets platform, which is designed to help institutional clients navigate the convergence of traditional and digital finance. By combining custody and cash management services within a single operating model, BNY is helping clients access new opportunities in blockchain-based networks with the controls, resiliency and governance required for institutional markets.

"BNY has always been where institutional finance moves first, and making USDC the first stablecoin included in their new offering reflects the regulatory rigor Circle has built into USDC from day one," said Kash Razzaghi, Chief Commercial Officer at Circle. "This is the next chapter in a longstanding relationship that now gives BNY clients connectivity between onchain and traditional assets, within the infrastructure they already trust."

To learn more about BNY's Digital Assets capabilities, visit here.

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About BNY

BNY is a global financial services platforms company at the heart of the world's capital markets. For more than 240 years BNY has partnered alongside clients, using its expertise and platforms to help them operate more efficiently and accelerate growth. Today BNY serves over 90% of Fortune 100 companies and nearly all the top 100 banks globally, overseeing $59.3 trillion in assets under custody and/or administration and $2.2 trillion in assets under management as of December 31, 2025.

BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in New York City, BNY has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. Additional information is available on bny.com. Follow BNY on LinkedIn or visit the BNY Newsroom for the latest company news.

About Circle

Circle (NYSE: CRCL) is one of the world's leading internet financial platform companies, building the foundation of a more open, global economy through digital assets, payment applications, and programmable blockchain infrastructure. Circle's platform includes the world's largest stablecoin network anchored by USDC, Circle Payments Network for global money movement, and Arc, an enterprise-grade blockchain designed to become the Economic OS for the internet. Enterprises, financial institutions, and developers use Circle to power trusted, internet-scale financial innovation. Learn more at circle.com.

Circle Mint and money transmission services are provided by Circle Internet Financial, LLC, NMLS #1201441, a licensed provider of money transmission services. Circle Mint is currently available only to institutions and is not available to individuals.

Circle is not a bank; Circle Mint is not a bank account, and any funds are not insured by the Federal Deposit Insurance Corporation, the Securities Investor Protection Corporation or by an US or foreign government agency, insurance fund, person or entity.