BNY Moves to Adopt Blockchain to Tokenize Traditional Financial Assets

• BNY is expanding its use of blockchain to modernize financial infrastructure and custody services.
• The bank has launched a blockchain-based transfer agent for tokenized fund transactions and records.
• The initiative aims to enable faster settlements, free up capital, and reduce transaction delays.

The Bank of New York Mellon Corporation (BNY) is actively deploying blockchain technology to transform its core financial infrastructure, record-keeping, and cross-border custody solutions.

BNY’s strategy focuses on tokenizing traditional financial assets and introducing real-time, round-the-clock operations. The Wall Street giant has already launched a blockchain-based digital transfer agent to manage transactions and ownership records for tokenized funds.

BNY’s digital division manages its transfer agency business, overseeing approximately $8.6 trillion in assets ac…

Read The Full Article BNY Moves to Adopt Blockchain to Tokenize Traditional Financial Assets  On Coin Edition.