Bank of New York Mellon to Offer Tokenized Deposit Services to Institutional Investors

The world's largest custodian bank, Bank of New York Mellon (BNY), has taken its first step into tokenization by offering institutional clients the ability to settle bank deposits on the blockchain. According to a statement released on Friday, this Wall Street giant (managing nearly $58 trillion in assets) is launching a platform that reflects client balances on a private blockchain to support faster settlement and liquidity management.
"Tokenized deposits give us the opportunity to extend trusted bank deposits into digital channels—enabling clients to process collateral, margin, and payments more quickly within a framework built for scale, resilience, and regulatory consistency," said Caroline Winberg, Chief Product and Innovation Officer at Bank of New York Mellon, in the press release.