BNY to adopt blockchain for trade processing and fund ownership records

BNY has launched digital transfer-agency capabilities that place fund books and records on blockchain infrastructure for digitally native funds, extending transfer-agency services across the full lifecycle of digital and traditional asset funds in multiple jurisdictions and blockchains. The system is designed to create a unified source of ownership and transaction data, with legal title and economic value existing on-chain rather than through mirror-token structures. The rollout begins with select clients in the U.S. and U.K. BNY will offer a digitally native money market fund from BNY Investments Dreyfus, with BLIQUID tokens representing fund shares. Baillie Gifford has already launched the Baillie Gifford Enhanced Yield Fund, or BAGEY, which BNY described as the first publicly available, fully native U.K.-regulated tokenized fund. BlackRock is also expected to use the platform for BSTBL, a tokenized share class of its money market fund designed to meet stablecoin reserve requirements. BNY said the platform supports fiat and stablecoin subscriptions and redemptions through mint and burn functions within its ecosystem, linking tokenization, distribution and custody with the firm's existing transfer-agency recordkeeping infrastructure. The bank said the service is part of a broader digital-assets offering that also includes custody, stablecoin enablement and tokenized deposits. BNY said it services about $8.6 trillion in assets and more than 7.6 million investor accounts through its transfer-agency business, while as of June 30, 2026 it held $62.6 trillion in assets under custody and/or administration and $2.2 trillion in assets under management.