BNY Mellon Trials Blockchain Deposits to Overhaul $2.5T Payments Processing

BNY enters tokenized deposit arena to let clients make blockchain payments - report (BK:NYSE)

Custodial bank BNY (BK) is testing tokenized deposits -- blockchain-based representations of commercial bank money -- as part of its push to modernize infrastructure by scaling real-time, cross-border payments, according to a Tuesday media report.

BNY Mellon Trials Blockchain Deposits to Overhaul $2.5T Payments Processing

The effort aims to enable near-instant settlement and potentially reduce transaction costs, with tokenized deposits moving over a blockchain.

BNY Explores Tokenized Deposits as Blockchain Payments Catch On

Bank of New York Mellon Corp. is exploring tokenized deposits to enable clients to make payments using blockchain, as major banks across the world step up use of the technology underpinning digital assets to transfer funds.

BNY Mellon Launches Pilot for Tokenized Deposits to Modernize Global Payments

The Bank of New York (BNY) Mellon, one of the world’s most influential financial institutions, is exploring tokenized deposits. This pilot is part of the bank’s long-term plan to reshape the global payments system using blockchain technology. Visit Website

BNY Mellon Explores Tokenized Deposits for Faster Payments

The Bank of New York Mellon (BNY Mellon), the world’s largest custodial bank with $55.8 trillion in assets under custody, has begun testing tokenized deposits as part of its ongoing efforts to modernize global payment infrastructure. The initiative marks a significant step in the bank’s exploration of blockchain-based finance, aligning with the growing industry shift toward tokenization in institutional banking. According to reports, the project…