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BNY Plans Institutional Bitcoin and Ethereum Custody Launch in Abu Dhabi Global Market

BNY announced the launch of institutional Bitcoin and Ether custody in Abu Dhabi Global Market with Finstreet and ADI, expanding its regional digital asset push and laying groundwork for future stablecoin and tokenized-asset support.

BTC
ETH

Summary

BNY said it is launching institutional digital asset custody in Abu Dhabi Global Market, initially supporting Bitcoin and Ether for institutional clients. The rollout is being carried out with Finstreet and ADI, adding named partners to the previously announced plan. BNY said the ADGM offering is intended to provide compliant institutional custody infrastructure and could later expand to support stablecoins and tokenized assets.

Terms & Concepts
  • Digital asset custody: A service that stores and safeguards private keys and related assets for investors, typically with institutional-grade security and compliance controls.
  • Stablecoins: Cryptocurrencies designed to maintain a stable value, usually by being linked to a fiat currency or other reserve asset.
  • Tokenized assets: Assets represented on a blockchain as digital tokens, enabling digital ownership records and transfer within regulated or market-specific frameworks.