BNY Mellon CEO says the future of crypto runs through big banks

BNY Mellon CEO Robin Vince stated that the next major phase of cryptocurrency adoption will be facilitated by large financial institutions acting as a bridge between traditional finance and digital asset ecosystems. Speaking at the Digital Asset Summit, Vince emphasized that BNY Mellon's existing infrastructure and client base make it an ideal vehicle for adoption, countering the idea that crypto will bypass incumbents. He highlighted tokenization, including creating digital tokens for existing products like money market funds, as a key area of focus, particularly for clunky markets like lending and real estate. However, Vince stressed that trust and clear regulation are crucial; without established rules, the majority of the financial services community will remain hesitant. He anticipates this evolution will be a long-term journey spanning 5 to 15 years, dependent on technology, regulation, and market participation.

(Source：CoinDesk)