BNY Mellon Prioritizes Crypto Infrastructure Over Stablecoin Issuance
BNY Mellon is doubling down on cryptocurrency infrastructure services rather than launching its own stablecoin. During Thursday's earnings call, executives confirmed accelerated crypto investments while explicitly ruling out a proprietary stablecoin for now. The bank cited improving market conditions and clearer regulatory guidance under new leadership as key drivers for this strategic shift.
As a global custody leader, BNY Mellon is channeling resources into tokenized real-world assets and blockchain payment systems. "We've reprioritized crypto opportunities under the new regime," said CFO Dermot McDonogh. CEO Robin Vince positioned the institution as an enabler for third-party stablecoin projects, emphasizing its role in connecting cash, collateral, and market infrastructure through custody and collateral management services.
