BNY expands crypto custody push in Abu Dhabi
The Block
BNY has partnered with Finstreet and ADI Foundation to launch institutional-grade cryptocurrency custody services within the Abu Dhabi Global Market.Summary
The Bank of New York Mellon (BNY) is extending its digital asset services to the UAE by partnering with Finstreet and ADI Foundation. The initiative will initially focus on providing bitcoin and ether custody for Finstreet's clients within the Abu Dhabi Global Market, with future plans to include stablecoins and tokenized real-world assets. BNY executive Hani Kablawi stated that the move aims to build future financial infrastructure in the region, building on the bank's existing efforts in tokenized deposits and asset management.
(Source：The Block)