World · Institutional · United States ·
BNY Mellon brings fund ownership records onto a blockchain for the first time
BNY Mellon, the world's largest custody bank, is launching a blockchain-based platform to record transfer agency data, the official log of who owns shares in a fund, while keeping its existing systems running alongside it. The move targets the $8.6 trillion transfer agency market.
Why it matters for the crypto market
A move by the world's largest custodian to put core fund ownership records on a blockchain signals growing institutional confidence in using public or shared ledgers for mainstream financial infrastructure.
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