Key facts
- BNY Mellon is launching a digital transfer agency platform.
- The platform will process fund transactions on-chain.
- The platform will maintain shareholder records on-chain.
- BNY Mellon's digital asset services now extend beyond custody and stablecoin support.
- Tether has signed a memorandum of understanding with the Nairobi Securities Exchange.
- The agreement explores tokenized securities.
- The agreement explores blockchain-based market infrastructure.
- The agreement covers the potential use of USDT as a settlement layer.
- The agreement includes digital asset education.
- The agreement includes the use of Tether's Hadron platform.
BNY Mellon is expanding its digital asset services with the launch of a new digital transfer agency platform. This platform is designed to process fund transactions and maintain shareholder records directly on-chain, extending capabilities beyond its existing custody and stablecoin support. The move signifies a significant step for the financial institution in embracing blockchain technology for core financial operations.
In parallel, Tether has announced a memorandum of understanding with the Nairobi Securities Exchange (NSE). This agreement focuses on exploring the development of tokenized securities and blockchain-based market infrastructure. A key aspect of the collaboration is the investigation into using Tether's USDT stablecoin as a potential settlement layer for transactions. The partnership also encompasses initiatives for digital asset education and the potential application of Tether's Hadron platform within the NSE's operations.