BNY Mellon eyes digital asset custody services for Asia

U.S. financial group takes early lead in 'age of tokenization'

BNY Mellon President and CEO Robin Vince: "It's our expectation that, over 10, 20, 30 years, we will see more assets exist in tokenized form and managed on blockchains."

TAKENORI MIYAMOTO, Nikkei staff writer

January 17, 2023 19:22 JST

TOKYO -- As it expands in Asia and the rest of the world, the Bank of New York Mellon (BNY Mellon) plans to offer a custodial service for tokenized securities and crypto assets, its President and CEO Robin Vince told Nikkei.

BNY Mellon is said to be the oldest bank in the U.S., its precursor having set up shop in 1784. In the field of custodial services, it is the world's largest player, with $44.3 trillion in assets under custody or administration.