BNY Mellon launches blockchain transfer agency managing $8.6 trillion in assets
BNY Mellon, a 242‑year‑old financial institution that safeguards over $59 trillion in assets, has introduced a digital transfer‑agency platform built on blockchain technology. The new service will handle about $8.6 trillion for 7.6 million clients, bringing one of Wall Street’s core record‑keeping functions onto a unified ledger.
The platform is intended to improve efficiency and transparency, with BNY’s Chief Product and Innovation Officer Carolyn Weinberg stating that “digitizing book and record information using blockchain technology may change the way funds are transacted.” It supports tokenization, distribution, custody and both fiat and stable‑coin subscriptions and redemptions. Early institutional users include Baillie Gifford, which plans to launch the first native UK‑regulated tokenized fund, as well as BlackRock and Dreyfus, which are ready to issue digital investment products. The rollout is part of BNY’s wider digital‑asset expansion and follows regulatory advances such as the EU’s MiCA framework.
Entities: BNY Mellon · Baillie Gifford · BlackRock · Carolyn Weinberg · Emily Portney
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 2 SOURCES] Baillie Gifford will use the platform to launch the first native UK‑regulated tokenized fund. (BNY Mellon announcement)
- [● 2 SOURCES] BlackRock and Dreyfus are ready to launch investment products using the digital transfer agency. (BNY Mellon announcement)
- [● 3 SOURCES] The platform manages about $8.6 trillion in assets for 7.6 million clients. (BNY Mellon statements)
- [● 2 SOURCES] Digitizing book and record information using blockchain will improve efficiency and transparency of fund transactions. (Quote from Carolyn Weinberg, BNY Mellon Chief Product and Innovation Officer)
- [● 3 SOURCES] BNY Mellon safeguards over $59 trillion in assets under custody and administration. (BNY Mellon corporate information)
- [● 2 SOURCES] The initiative aligns with regulatory progress under the EU Markets in Crypto‑Assets (MiCA) framework. (BNY Mellon statements)
- [● 2 SOURCES] The platform supports on‑chain books, tokenization, distribution, custody and both fiat and stable‑coin subscriptions and redemptions. (BNY Mellon product description)
- [● 3 SOURCES] BNY Mellon launched a blockchain-based digital transfer agency platform. (BNY Mellon press releases)