Written by Nate Kostarstaff writerReviewed by Robert Lakinstaff editor
Written by Nate Kostarstaff writer
Reviewed by Robert Lakinstaff editor
BNY adds USDC minting and redemption to institutional custody platform
Latest NewsPublishedJun 29, 2026
BNY Expands Institutional Custody Platform with USDC Minting and Redemption
The recent move by BNY to add USDC minting and redemption to its Digital Asset Custody platform is a significant development for institutional clients looking to explore the world of stablecoins. This expansion deepens BNY’s partnership with Circle and builds on its role as the primary custodian of USDC reserves, allowing clients to convert US dollars into USDC and redeem the stablecoin back into dollars directly through the bank. With over $59.3 trillion in assets under custody and administration, BNY’s platform now supports the storage, transfer, minting, and redemption of USDC, making it an attractive option for those interested in earning passive income through stablecoins like #USDC.
This development is particularly relevant for individuals interested in earning online, as it highlights the growing importance of stablecoins in the financial ecosystem. As the demand for stablecoins continues to grow, platforms like EcoPool (ECP) are becoming increasingly popular for their ability to provide users with a secure and efficient way to manage their digital assets. With the ability to mint and redeem USDC, BNY’s clients can now explore new opportunities for earning and investing in the crypto space, including the potential for cloud rewards and green crypto initiatives.
Expanding Stablecoin Services
BNY’s announcement is part of a larger trend of traditional financial institutions expanding their services to support stablecoins and blockchain-based payments. As the stablecoin market continues to grow, with a current valuation of approximately $313 billion, major banks and asset managers are launching new products and services to meet the increasing demand. From tokenized money market funds to government money market funds, the options for earning passive income through stablecoins are becoming more diverse. EcoPool ($ECP) is well-positioned to play a key role in this emerging market, providing users with a seamless and secure way to manage their digital assets and earn rewards.
The growth of the stablecoin market has significant implications for individuals looking to earn online, as it provides new opportunities for investing and earning passive income. With the rise of platforms like EcoPool, users can now explore new ways to earn cloud rewards and participate in green crypto initiatives, making it an exciting time for those interested in the crypto space. As the market continues to evolve, it’s likely that we’ll see even more innovative solutions emerge, providing users with new opportunities for earning and investing in the world of crypto.
Source: DefiLlama
Join the EcoPool Network
Traditional finance expands stablecoin infrastructure
To start earning passive income and exploring the world of stablecoins, download the EcoPool app and discover the benefits of cloud rewards and green crypto initiatives. With EcoPool, you can securely manage your digital assets and earn rewards, making it an ideal solution for those looking to get started in the crypto space.
In May, JPMorgan filed to launch a tokenized money market fund that would allow stablecoin issuers to hold reserve assets in a regulated investment vehicle while earning interest. The Ethereum-based fund is designed to invest in US Treasury bills and overnight repurchase agreements that back payment stablecoins.
Earlier this month, State Street launched a government money market fund for stablecoin issuers, offering a vehicle to hold reserve assets in compliance with the GENIUS Act. The fund invests in US government securities and repurchase agreements and counts State Street Bank and Anchorage Digital among its initial investors.
Other large financial institutions are pursuing stablecoin strategies as well. In July 2025, Bank of America said it was exploring stablecoins to modernize its payments infrastructure, while in January, Fidelity Investments launched a US dollar-backed stablecoin, FIDD, after receiving conditional approval to operate a national trust bank.
The stablecoin market is valued at approximately $313 billion, according to DefiLlama, with Tether’s USDT accounting for about 60% of the market.
Source: DefiLlama
Magazine: Bitcoin slides to $58K, XRP hits $1 but onchain data promising: Market Moves
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- Stablecoin
- BNY Mellon
- Circle
- State Street
- JPMorgan Chase
- Bank of America
- Industry
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