BNY Mellon Moves Fund Ownership Records to Blockchain, Eyes Institutional Adoption
The custodian bank launches a blockchain-based transfer agency, managing $8.6 trillion in assets across 7.6 million accounts
Quick Look
BNY Mellon, a leading custodian bank, is transitioning its transfer agency operations to a blockchain platform, aiming to create a shared, on-chain record for fund ownership and transactions, initially covering $8.6 trillion in assets.
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Why It Matters
BNY Mellon expands digital asset services under EU's MiCA framework.
BNY Mellon, one of the world’s largest custodian banks, is taking a major step toward blockchain-based financial infrastructure by moving fund ownership records onchain. The New York-based institution will launch a blockchain-based version of its transfer agency business, which manages fund ownership records and investor transactions, the Financial Times reported Wednesday. [...]
What to Watch
AI outlook — possibilities, not facts
Increased adoption of blockchain in financial services
Likely · Within months
Open Questions
- Which blockchain network will be used?
