BNY explores tokenized deposits to power $2.5T daily payment network: Bloomberg

**BNY Mellon Explores Blockchain Technology for $2.5 Trillion Daily Payment Network Through Tokenized Deposits**

Banking giant BNY Mellon is investigating tokenized deposits to revolutionize its massive $2.5 trillion daily payment infrastructure by integrating blockchain technology. This groundbreaking initiative represents a significant step toward mainstream cryptocurrency adoption and decentralized finance (DeFi) integration within traditional banking systems.

The Wall Street institution's exploration of blockchain rails for cross-border settlements could dramatically transform global financial infrastructure. By tokenizing deposits, BNY Mellon aims to modernize payment processing while leveraging distributed ledger technology's efficiency and transparency benefits.

This development signals growing institutional cryptocurrency acceptance, potentially impacting Bitcoin and broader digital asset markets. Traditional banks increasingly recognize blockchain's potential to streamline operations, reduce settlement times, and lower transaction costs across international payment networks.

BNY Mellon's blockchain initiative could set industry precedents, encouraging other major financial institutions to adopt similar tokenization strategies. The move aligns with accelerating trends toward digital currency integration and smart contract implementation in conventional banking operations.

This institutional pivot toward cryptocurrency technology may drive significant market momentum and further validate blockchain's role in future financial systems.