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BNY Mellon Joins Global Banks in Tokenization Race with $2.5T Payments Push
BNY Mellon Joins Global Banks in Tokenization Race with $2.5T Payments Push
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BTCCSquare news:
BNY Mellon is steering $2.5 trillion of daily payment flows toward blockchain infrastructure through tokenized deposits, marking a strategic pivot to 24/7 real-time settlements. The initiative targets legacy system inefficiencies by anchoring transactions on Immutable ledgers—commercial bank money backs each token 1:1, differentiating it from stablecoins while retaining regulatory compliance.
The MOVE aligns with a broader industry shift as financial giants modernize cross-border payments. Unlike third-party stablecoins, BNY Mellon's solution operates within traditional banking rails, reducing counterparty risk. Pilot programs could redefine fund settlement speeds, mirroring blockchain-native asset efficiency for institutional workflows.
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