Bank of New York Mellon expands cryptocurrency services in Abu Dhabi

According to CoinDesk, the world's largest custodian bank, BNY Mellon, is expanding its digital asset custody business in the Abu Dhabi Global Market through local partners Finstreet and ADI Foundation.

The initial phase of the plan will focus on custody services for Bitcoin and Ethereum, with future expansion to stablecoins and tokenized assets. Hani Kablawi, Executive Vice President of BNY Mellon, stated that the UAE is entering a new phase of financial development, and the bank is committed to connecting traditional and digital financial ecosystems.