BNY expands digital asset custody push with UAE partnerships
BNY (formerly BNY Mellon) is expanding its digital asset custody services into the UAE through local partnerships, as institutional demand for secure custody in the region surges. The expansion leverages local collaborations as part of the ongoing rapid integration of digital assets into mainstream finance via regulated channels. BNY joins other global financial giants in bridging traditional finance with the digital asset ecosystem, capitalizing on the high demand for secure, regulated custodial services. The UAE is catching up to global leaders in crypto and blockchain innovation, creating demand for institutional-grade custody solutions. Major traditional financial custodians are aggressively entering the crypto market to offer secure, compliant services. As the UAE continues to build its digital asset regulatory framework, BNY is enhancing its digital asset platform to include on-chain, near-real-time settlement via tokenized deposits. BNYs UAE expansion exemplifies the current phase, where custody is about utility: enabling assets to flow securely between digital and traditional systems. BNY helps embed digital assets into a sovereign-grade framework with Finstreet and the ADI Foundation in Abu Dhabi Global Market (ADGM), BNY is not just storing keys; it is embedding digital assets into a sovereign-grade framework. The involvement of the ADI Foundation (focused on sovereign digital economies) signals that