BNY Mellon Launches Tokenised Deposit Feature For Institutional Clients — Expert Breaks It Down
BNY Mellon has launched a tokenized deposit feature for institutional clients, operating on a private, permissioned blockchain. This system creates a digital representation of traditional deposit balances, which remain securely held in the bank’s regulated systems. The innovation aims to improve efficiency, enable 24/7 operations, and facilitate near-instant, programmable transfers for collateral, margin, and payments. Key participants, including ICE, Citadel Securities, and Circle, will test the feature in real workflows like collateral management and settlements. The initiative bridges traditional banking with digital infrastructure, enhancing liquidity and reducing friction in financial operations.
bitcoinist01/10 12:47