Wu Blockchain (@WuBlockchain): BNY, With Over $59 Trillion in Assets Under Custody and Administration, to Launch Blockchain-Based Digital Transfer Agency
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BNY, With Over $59 Trillion in Assets Under Custody and Administration, to Launch Blockchain-Based Digital Transfer Agency BNY, which has over $59 trillion in assets under custody and administration, plans to launch a digital transfer agency that records fund transactions and ownership on-chain while retaining its traditional system. The business currently services about $8.6 trillion across 7.6 million accounts, with Baillie Gifford, BlackRock and BNY’s Dreyfus expected to be among the first users.