Circle has revealed that Cross River Bank — recognized for its services to fintech and crypto firms like Visa (NYSE:V) and Coinbase (NASDAQ:COIN) — is now its new commercial banking partner for producing and redeeming USD Coin (USDC).
In addition, Circle has “expanded relationships” with other banking partners to assist with USDC redemption, including Bank of New York Mellon (NYSE:BK) (BNY Mellon), which already provides custody services for Circle’s reserves.