Overview

• The bank is in an exploratory phase for blockchain-based deposits and has not set a public launch timeline.
• Tokenized deposits represent claims on a regulated bank and move on blockchain rails for near-instant, 24/7 settlement with potentially lower costs.
• BNY Mellon processes roughly $2.5 trillion in payments each day and oversees about $55.8 trillion in assets under custody or administration.
• Leaders say initial use may be confined to BNY Mellon's own network before any broader rollout once standards and interoperability mature.
• The initiative follows industry pilots such as JPMorgan’s JPMD, HSBC’s tokenized cash service, SWIFT’s shared-ledger work, and BNY Mellon’s July collaboration with Goldman Sachs to tokenize money market fund records, helped by clearer U.S. and EU rules.