BNY eyes institutional Bitcoin, Ethereum custody for investors in UAE
BNY Mellon, the world's largest custodian, partnered with Abu Dhabi's Finstreet and ADI Foundation to offer institutional Bitcoin and Ethereum custody services from the Abu Dhabi Global Market. The collaboration marks BNY's first US systemically important bank digital asset custody offering, with plans to expand to stablecoins and tokenized real-world assets. UAE's crypto infrastructure continues strengthening.
Key takeaways
- 1BNY Mellon partnered with Finstreet and ADI Foundation to offer institutional Bitcoin and Ethereum custody from Abu Dhabi Global Market.
- 2BNY is the first US systemically important bank to offer digital asset custody services.
- 3UAE stablecoin infrastructure expanding with dirham-backed DDSC and Shariah-compliant PUSD launching on ADI Chain.
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Why it matters
UAE's strengthening crypto regulatory framework and institutional custody infrastructure attract global capital and position it as a regional digital asset hub, while BNY's entry signals mainstream banking adoption of crypto custody that could eventually benefit Indian institutional investors through similar developments.
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