BNY Mellon вводит в оборот токенизированные депозиты для институциональных инвесторов Translation: BNY Mellon introduces tokenized deposits for institutional investors

The Bank of New York Mellon (BNY), the largest custodian bank globally, has launched tokenized deposit services aimed at institutional clients. This was reported by Bloomberg.

The service creates a digital representation of the assets stored within the institution on a blockchain. This enables the funds to be utilized as collateral in lending and margin activities.

Additionally, the solution facilitates the acceleration of payments, allowing for 24/7 transactions that bypass the limitations of traditional fiat channels.

Among the initial clients of BNY’s tokenized deposit service are companies such as Intercontinental Exchange, Citadel Securities, DRW Holdings, Ripple Prime, Baillie Gifford, and Circle Internet Group.

The service’s launch comes just a few months after reports of the bank’s experiments with deposit tokens.

Experts attribute the growing interest of financial institutions in the U.S. toward this technology to the passage of the GENIUS Act, which sets regulations for stablecoins and marks the first significant legislation for the crypto industry in the country. Unlike fiat-backed «stable coins,» tokenized deposits are created within the existing banking system and can yield interest income.

It’s worth noting that according to forecasts from Standard Chartered, by 2028, the market capitalization of tokenized real-world assets, excluding stablecoins, is expected to reach $2 trillion.