BNY Expands Circle Partnership with Full USDC Lifecycle Services

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 4 days ago

XAUT+0.04%

BANK+0.813%

SHIB+2.331%

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Service Expansion: BNY has added full USDC lifecycle services through its partnership with Circle, enabling institutional clients to custody, transfer, mint, and redeem USDC directly on the digital asset custody platform, significantly enhancing the connection between traditional banking services and blockchain assets.
Streamlined Process: The new service integrates custody, transfers, minting, and redemption within BNY's Digital Asset Custody platform, eliminating the need for institutions to coordinate across multiple service providers, thereby improving operational efficiency and reducing management complexity.
Strategic Implications: BNY plans to gradually support additional stablecoins, further solidifying its leadership position in the digital asset space while enhancing its appeal and trustworthiness in institutional finance through its long-standing partnership with Circle.
Market Impact: As one of the first major Wall Street institutions to provide regulated digital asset custody services, BNY has expanded its role in supporting spot Bitcoin and Ethereum exchange-traded funds, further driving the transition of traditional financial institutions into digital assets.

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Technical Analysis for XAUt

Technical Sentiment Analysis for Tether Gold (XAUt). As of , Tether Gold (XAUt) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XAUt stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, XAUt is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Tether Gold (XAUt) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	3710.471	3827.735	3949.151	4066.415	4187.831	4305.095	4426.511
Fibonacci	3827.735	3918.911	3975.24	4066.415	4157.591	4213.92	4305.095

About XAUT

Tether Gold (XAU₮) is a stablecoin that provides ownership on a 1:1 basis of one fine troy ounce of gold on a physical bar of gold that meets the Good Delivery standard of the London Bullion Market Association (LBMA). This technology allows access to a stablecoin that provides ownership of physical gold while avoiding the drawbacks associated with physical gold, such as high storage cost and limited accessibility. Note: XAU₮ tokens can be fractionated up to six decimal places (i.e. in increments as small as 0.000001 troy fine ounce).

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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