BNY Mellon integrates Circle's stablecoin technology for institutional clients.
3 reports, 2 independent
Updated Jul 1
Gone quiet
Reached 2 outlets in its first 24 hours
- Reports
- 3
- Developments
- 1
- Repetition
- 67%
New informationRepeats or wire copies
AI-generated analysis. Brind wrote this summary from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
BNY Mellon integrates Circle's stablecoin technology for institutional clients.
Who's involved
What this event is mainly aboutKeep exploring
The entities involved
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Circle
peer-to-peer payments technology company
- Coinbase operates as a leading regulated crypto exchange, utilizing its Base Layer-2 network built on Ethereum, and shares revenue with Circle in the USDC ecosystem.
- Hana Bank is participating in a settlement network trial involving the Bank of Korea, while Binance announces a $100M investment to promote Circle's USDC.
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The Bank of New York Mellon
American investment banking services holding company
Related events
- Banks are launching stablecoin initiatives as a competitive strategy to counteract the growing market share of non-bank financial competitors.
- Circle is building its own blockchain via Arc and testing stablecoin rails on Base, while facing market pressures regarding high distribution partner costs.
- South Korean reforms are fast-tracking the legalization of KRW-backed stablecoins, attracting significant retail investment.
- The Fed has proposed new anti-money laundering rules specifically for stablecoins, while Circle is simultaneously exploring its evolution into a federally chartered bank.
- Circle is linked to broader crypto market trends, while Coinbase has heavy exposure to digital asset trading activity.