BNY Mellon Invests in Blockchain for Faster Payments

Financial giant Bank of New York Mellon (BNY Mellon) is exploring the potential of blockchain technology to revolutionize global payments. The institution is developing a new network that will utilize tokenized deposits, digital representations of traditional bank accounts stored on a blockchain, for faster and more transparent transactions. This move highlights BNY Mellon’s commitment to leveraging emerging technologies to enhance its payment systems.