Crypto

BNY Mellon Unveils Blockchain-Powered Tokenized Funds System

Guavy AI Editorial Team Published July 29, 2026

BNY Mellon is expanding its use of blockchain technology to create a new system for tokenized funds. The company, which has $8.6 trillion in assets under custody, will keep ownership records on-chain as part of its transfer agency division. This move marks the bank's larger expansion into blockchain, including digital custody and tokenized bank deposits.

The blockchain-powered variation of BNY Mellon will document who holds shares in investment funds, allowing for more efficient management of fund share tokens on public blockchains. The new system also enables making purchases and redemptions both in fiat and stablecoins.

Several asset managers have already expressed interest in using the platform, including Baillie Gifford, which is currently using BNY Mellon's service for a fully native UK-regulated tokenized fund. BlackRock and Dreyfus are also expected to use the platform for upcoming funds.

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