Circle taps Cross River as banking partner, expands ties with BNY Mellon

Circle adds Cross River as banking partner and expands BNY ties, USDC peg closes

An announcement by Circle about new banking partners comes as the brief de-pegging of USDC came to an end.

Circle Extends Partnership Tie With BNY Mellon And Selects Cross River As A Banking Partner

Circle has stated that its new commercial banking partner for creating and redeeming USD Coin (USDC) is Cross River Bank, known for its services to fintech and cryptocurrency companies like Visa and Coinbase. In order to help with USDC redemption, Circle has also extended partnerships with other financial partners, including Bank of New York Mellon (BNY Mellon), which already offers custody services for Circle's reserves.

Circle taps Cross River as banking partner, expands ties with BNY Mellon

Circle announced a new banking partner after Silicon Valley Bank’s failure, and is expanding ties with BNY Mellon.

Circle partners with Cross River as other banks collapsed

Circle has partnered with Cross River as regulators shut down Silicon Valley Bank and Signature. The partnership ensures that USDC maintains its 1:1 peg to the US dollar

Circle taps Cross River as banking partner, expands ties with BNY Mellon

Circle now has a new banking partner — Cross River Bank — following the failure of Silicon Valley Bank, and plans to expand its ties with BNY Mellon.