BNY Explores Tokenized Deposits as Blockchain Payments Catch On

Bank of New York Mellon Corp. is exploring tokenized deposits to enable clients to make payments using blockchain, as major banks across the world step up use of the technology underpinning digital assets to transfer funds.

The project is part of the bank’s broader work to modernize infrastructure which includes scaling real-time, instant and cross-border payments, Carl Slabicki, executive platform owner for Treasury Services at BNY, said in an interview.