Bank of New York Mellon expands cryptocurrency services in Abu Dhabi

CoinFeed reported on May 7th that, according to CoinDesk, BNY Mellon, the world's largest custodian bank, is expanding its digital asset custody business in the Abu Dhabi Global Markets through local partners Finstreet and ADI Foundation. The plan will initially focus on custody services for Bitcoin and Ethereum, later expanding 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 the traditional and digital financial ecosystems.