BNY Increases Prime Lending Rate to 7.00%

Stablecoins, with a total supply of $303B, rely increasingly on traditional banks for growth. Regulation in the U.S., Europe, and Britain accelerates this trend, requiring stablecoin issuers to integrate with regulated banking systems. Major banks are forming consortia to issue stablecoins, while Circle's stock dropped 6% on this news. Projections suggest stablecoin market could reach $1.9T-$4T by 2030, but risks like liquidity strains remain.

UK companies have spent over £1.3 billion in 2026 buying their own offices, driven by falling prices and rising rents. Barclays' £750 million deal for its HQ was the largest. High fit-out costs and supply shortages also motivate purchases. Other buyers include State Street, State Bank of India, Bank of New York Mellon, and Lloyds Banking Group.

Q2 earnings for custody banks showed revenues 3.2% above estimates. BNY (NYSE:BNY) reported $5.7B revenue, up 13.3% YoY, beating expectations. Hamilton Lane (NASDAQ:HLNE) saw 56.5% revenue growth, outperforming estimates. StepStone Group (NASDAQ:STEP) missed expectations with a 3.9% shortfall. Federated Hermes (NYSE:FHI) and State Street (NYSE:STT) also reported strong results.

Nvidia said it will partner with six private capital firms, including Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR, to finance AI infrastructure via vehicles worth over $500 billion, after funding customers with its own balance sheet. The article also cites Saudi Arabia’s data-center debt needs and US local data-center construction bans exceeding 500 in July.

Bank of New York Mellon (BNY) said it is expanding its digital asset business to let institutional clients earn staking rewards on crypto held in its Digital Asset Custody platform, partnering with Galaxy Digital (GLXY). BNY reported $62.6 trillion in assets under custody and administration as of June 30, 2026. The offering is subject to regulatory review.

BNY (NYSE:BNY) said it is partnering with Galaxy Digital (NASDAQ:GLXY) to add staking to its crypto custody platform. Eligible institutional clients can stake assets held at BNY to earn rewards for PoS networks, subject to regulatory review. Galaxy will supply staking infrastructure. BNY also cited prior blockchain and USDC custody expansions.