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BNY Mellon Launches Tokenized Deposits Supporting On-Chain Fund Transfers
Odaily Planet Daily News: Bank of New York Mellon (BNY) launches tokenized deposit service, supporting clients to transfer funds via blockchain networks. The tokenized deposit is an on-chain representation of the deposits held in BNY client bank accounts, which can be used for collateral and margin trading, and operates 24/7 to accelerate payment speeds. Currently, participating institutions include Intercontinental Exchange (ICE), Citadel Securities, DRW Holdings, Ripple Prime, Baillie Gifford, and Circle. (Bloomberg)