BNY Mellon, the world's largest custodian bank, is set to launch digital asset custody services in Abu Dhabi, initially supporting Bitcoin (BTC) and Ethereum (ETH). This move marks a significant expansion into the Middle East's burgeoning crypto sector, highlighting BNY's commitment to integrating traditional finance with blockchain technologies. The initiative will be developed in partnership with local firms Finstreet and ADI Foundation to ensure compliance with regional regulations. In the future, BNY plans to expand its offerings to include stablecoins and tokenized assets, leveraging the regulatory framework of the Abu Dhabi Global Market (ADGM). This strategic expansion aims to cater to the growing demand for secure and reliable crypto custody solutions among institutional investors, further positioning Abu Dhabi as a global hub for digital finance.
BNY Mellon to Launch Crypto Custody Services in Abu Dhabi
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