Wall Street’s BNY expands stablecoin ties with Circle, lets institutions mint and hold USDC
Unlike cryptocurrencies such as bitcoin, stablecoins are designed to maintain a fixed price pegged to a fiat currency, typically to the U.S. dollar and backed with cash and short-term U.S. Treasuries. Originally used primarily by crypto traders on exchanges, they are increasingly finding broader uses in payments, cross-border transfers and securities settlement. Institutions see significant…