Together Circle and BNY Mellon are committed
to building a stable and resilient financial ecosystem for the
future
BOSTON , March 31,
2022 /PRNewswire/ -- Today Circle Internet
Financial, LLC (Circle) announced that BNY Mellon, the largest
global asset servicer, was selected as a primary
custodian for USD Coin (USDC) reserves. Circle is a
global internet finance firm that provides internet-based payments
and financial infrastructure to businesses of all sizes and
is the sole issuer of USDC. USDC is one of the fastest growing
dollar digital currencies in the world with over $52 billion in circulation as of March,
20221.
BNY Mellon has been a pioneer in the global capital markets for
over 237 years. The firm is committed to advancing a stable and
resilient financial ecosystem to enable economic growth. This
newly announced relationship between BNY Mellon and Circle will
facilitate an exchange of expertise on a range of topics across
digital and traditional markets, including the bridging of
traditional and digital capital markets, investment management,
digital asset custody, cash management for fiat and non-fiat
payments, and the exploration of digital cash for purposes of
settlement.
"We are at a point in the evolution of our industry where the
digitization of assets is presenting new and exciting opportunities
to a broad range of market participants. BNY Mellon continues to
provide products and services to players in this evolving market,"
said Roman Regelman, CEO of
Asset Servicing and Head of Digital at BNY Mellon. "Our role as a
custodian for USDC reserves supports the broader marketplace and
brings value to clients, founded on our role at the intersection of
trust and innovation."
"Building trust, stability and resilience in the digital asset
economy is foundational to Circle's mission. As we continue to see
exponential growth in USDC, the opportunity to work with BNY Mellon
is one way we build bridges between traditional financial services
and emerging digital asset markets, without sacrificing trust.
Together, we will leverage our respective areas of expertise to
innovate and build the financial ecosystem of the future," said
Jeremy Allaire, Co-Founder and CEO
at Circle.
About Circle
Circle is a global financial technology
firm that enables businesses of all sizes to harness the power of
digital currencies and public blockchains for payments, commerce
and financial applications worldwide. Circle is the sole issuer of
USD Coin (USDC), one of the fastest growing dollar digital
currencies powering always-on internet-native commerce and
payments. Today, Circle's transactional services, business
accounts, and platform APIs are giving rise to a new generation of
financial services and commerce applications that hold the promise
of raising global economic prosperity for all through the
frictionless exchange of financial value. Additionally, Circle
operates SeedInvest, a leading startup fundraising platform in the
U.S. Learn more at https://circle.com.
About BNY Mellon
BNY Mellon is a global investments
company dedicated to helping its clients manage and service their
financial assets throughout the investment lifecycle. Whether
providing financial services for institutions, corporations or
individual investors, BNY Mellon delivers informed investment and
wealth management and investment services in 35 countries. As of
Dec. 31, 2021, BNY Mellon had
$46.7 trillion in assets under
custody and/or administration, and $2.4
trillion in assets under management. BNY Mellon can act as a
single point of contact for clients looking to create, trade, hold,
manage, service, distribute or restructure investments. BNY Mellon
is the corporate brand of The Bank of New York Mellon Corporation
(NYSE: BK). Additional information is available on
www.bnymellon.com. Follow us on Twitter @BNYMellon or visit
our newsroom at www.bnymellon.com/newsroom for the latest company
news.
1 https://www.circle.com/en/usdc
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SOURCE Circle Internet Financial, LLC