BNY Mellon, a privately owned company headquartered in New York City, US, was founded in 1784 and employs approximately 47,420 individuals, specializing in financial services. BNY Mellon, formally known as The Bank of New York Mellon Corporation, was formed in 2007 through the merger of The Bank of New York and Mellon Financial Corporation.
On July 10, 2026, the US Treasury Department and Bank of New York Mellon, which officially manages the initial Trump Accounts, compiled data indicating that over 6 million American children signed up for these new accounts following their July 4 launch, with direct contributions and gifts totaling $50 million from family and friends. Previously, on July 9, BNY Mellon was in focus after Alight Solutions announced a new collaboration to deliver an integrated retirement solution for defined contribution and defined benefit plans. Earlier the same day, Standard Chartered and BNY Mellon launched stablecoin rails, allowing institutional clients to mint and redeem Circle's USDC directly through the banks instead of a direct Circle account, creating a new custody-and-fee business opportunity.
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