BNY Mellon Launches Tokenized Deposit Service to Bridge Traditional Banking and Digital Assets

2026-01-09 17:20:11

Source: CryptoNewsNet Original Title: BNY Mellon, One of Wall Street’s Most Established Names, Joins Forces with Its New Move! “Ripple, Circle….” Original Link: https://cryptonews.net/news/market/32253033/ BNY Mellon (BNY), the largest custodian bank in the U.S., continues to expand its business using digital assets.

At this point, BNY Mellon has finally launched its tokenized deposit service.

According to Bloomberg, Bank of New York Mellon (BNY Mellon) announced it will launch a blockchain-based “tokenized deposit” service.

The tokenized deposit service aims to transform traditional bank deposits into on-chain digital assets to increase the efficiency of fund transfers and payments.

BNY Mellon stated in its announcement that the latest service represents deposits held in customer accounts in the form of digital cash on the blockchain and can be used for collateral and margin transactions as well as for fast payments.

BNY Chief Product and Innovation Officer (CPO) Carolyn Weinberg said, “The key here is to reliably connect traditional banking infrastructure and the digital ecosystem.”

According to the report, the service’s clients will include Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), along with Citadel Securities, DRW Holdings, Ripple Labs, Ripple Prime, and Circle.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.