BNY Mellon, one of the largest depository banks in the United States, has announced a partnership with Circle to allow customers to buy and sell stablecoins. This collaboration aims to bridge the gap between traditional and digital finance, as well as improve the interaction between the two sectors. BNY Mellon and Circle are exploring opportunities to further deepen the partnership, which could benefit financial markets.

According to The Information, this development also signals a more friendly regulatory environment for the cryptocurrency industry in the United States. For Circle, this is an opportunity to strengthen its position in the market and increase the adoption of its stablecoins by other financial institutions. In addition, it could make the company more attractive to investors ahead of a potential IPO.

BNY Mellon previously received approval from the US Securities and Exchange Commission (SEC) to store cryptocurrencies, highlighting the growing acceptance of digital assets by traditional financial institutions.