BNY Mellon Unveils Plans for Tokenized Deposits to Drive Digital Asset Expansion

BNY Mellon, the world’s largest custodial bank, is embarking on a strategic initiative to integrate tokenized deposits and blockchain-based payment systems into its $2.5 trillion daily payments platform. This move represents a significant step toward modernizing its financial infrastructure for digital asset expansion. The implementation aims to modernize operations, enhance liquidity, and streamline settlement processes globally. BNY Mellon’s exploration of tokenized deposits is expected to revolutionize institutional settlement by reducing costs and improving efficiency. ]