BNY launches tokenized deposits as banks compete for 24/7 markets

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Source: Yellow Original Title: BNY Launches Tokenized Deposits as Banks Compete for 24/7 Markets

Original Link: https://yellow.com/es/news/bny-lanza-depós-tokenizados-mientras-los-bancos-compiten-por-mercados-247 Bank of New York Mellon announced on Friday the launch of tokenized deposit services, enabling institutional clients to transfer funds using blockchain infrastructure.

The custodian managing $57.8 trillion in assets created digital representations of client deposits on a private, permissioned blockchain.

Among the initial participants are Intercontinental Exchange, Citadel Securities, Anchorage Digital, DRW Holdings, Circle, Ripple Prime, Baillie Gifford, WisdomTree, and Zero Hash.

BNY’s move follows similar blockchain initiatives by JPMorgan Chase and HSBC, as traditional finance rebuilds its legacy infrastructure.

What Happened

Tokenized deposits reflect client balances held at BNY, allowing near real-time settlement for collateral and margin transactions.

The bank built the service on a permissioned blockchain integrated with existing systems, while maintaining traditional records for regulatory compliance.

BNY’s Product and Innovation Director, Carolyn Weinberg, said the service extends “trust banking deposits onto digital rails” within a framework designed for regulatory alignment.

The launch comes after the passage of the GENIUS Act, which established federal regulatory frameworks for digital assets, including stablecoins.

Tokenized deposits differ from stablecoins because they remain within the banking system and retain the ability to pay interest.

Why It Matters

U.S. regulators expressed support for blockchain-based financial infrastructure. Agencies announced they would consider expanding trading hours to 24/7 operations, noting that blockchain technology enables continuous settlement.

JPMorgan expanded its JPM Coin to institutional clients in November, while HSBC plans to launch tokenized deposits for U.S. and U.A.E. corporate clients in the first half of 2026.

BNY’s permissioned blockchain approach contrasts with public blockchains, trading decentralization for regulatory compliance and institutional-grade security.

The bank positions tokenized deposits as a foundational infrastructure for broader tokenization of securities, including equities and bonds.

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