BNY Mellon Launches New Reserve Fund for Stablecoin Issuers Targeting $1.5T Market

BNY Mellon, America's oldest bank, is expanding into the $1.5 trillion stablecoin market by launching a new dedicated reserve fund for issuers. This strategic move positions the banking giant to provide secure and regulated custody services for the cash and government securities that back stablecoins like USDT and USDC. The new fund aims to address the growing demand from institutional investors for reliable and compliant partners in the digital asset space, signaling a major step towards the integration of traditional finance with the cryptocurrency ecosystem.