BNY MellonInstead of launching its own coin in the stablecoin field, it turned to infrastructure services. Bank executives announced at the financial results meeting held on Thursday that they have accelerated their cryptocurrency investments, but a “BNY stablecoin” plan is not yet on the agenda. Management attributed this strategic direction to both improving market conditions and the more positive regulatory environment created under the new management.
BNY Mellon’s Focus: Support the Ecosystem with the Power of Infrastructure
BNY Mellon, one of the world’s largest custodians, has this year brought forward investments in the tokenization of real-world assets (RWAs) and on-blockchain payment systems. Financial Affairs Director Dermot McDonogh“With the new management, we have highlighted the opportunities in the cryptocurrency field,” he said. CEO of the bank Robin Vince The aim of the institution is not to directly export altcoins, but to other companies in the sector. stablecoin He emphasized that the aim is to provide operational support to the projects.
Vince stated that BNY Mellon maintains its identity as an infrastructure provider for capital markets and acts as a bridge connecting cash, collateral and infrastructure. The bank is already big stablecoin issuersIt offers services such as custody, collateral management and reconciliation. This structure allows corporate actors to use stablecoins without building their own technological stacks.
Strategic Flexibility and Capital Redeployment
At the board meeting cryptocurrencyAllocating more resources to growth areas, including BNY Mellon directed the $500 million cost savings it achieved in internal operations to strategic initiatives such as digital transformation and artificial intelligence. CFO McDonogh said, “Market conditions are strengthening, and our board of directors thinks we should increase the company’s future investments.”
Vince described their stablecoin strategy as a flexible and collaborative model. The priority of the bank is to create a product with its own brand. altcoin To provide reliable infrastructure to existing projects in the sector, rather than removing them. In Vince’s words, real value creation comes from strengthening the ecosystem and facilitating capital flow.
