Traditional financial giants have officially entered the fray, taking the institutional narrative of USDC one step further. On the eve of the implementation of the regulatory framework in 2025, the stablecoin track is becoming an arena for compliant institutions.

Coin World reports that BNY Mellon has deepened its partnership with Circle, allowing institutions to mint and hold USDC. USDC will become the first supported stablecoin on BNY's custody platform, enabling clients to custody and have Circle convert dollars into stablecoins or redeem them. BNY was previously the primary custodian of USDC reserves and will support more stablecoin issuers in the future. This move aligns with the federal framework promoted by the 2025 GENIUS Act, which will set reserve, disclosure, and issuer regulations to boost institutional adoption.