Breaking News: BlackRock and BNY Mellon’s Love Affair with Ethereum 🌹

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Oh, what a delightful day for the digital asset world! The Bank of New York Mellon Corporation, the largest custodian in the world, has decided to take a leap into the future with the launch of a new tool that will deliver both on- and off-chain accounting data to blockchain networks. 🎉

BNY Mellon’s new toy, the Digital Asset Data Insights product, promises to bring security and efficiency to the offering and access to fund accounting data across blockchains. And who gets to be the first lucky client? None other than the global asset manager, BlackRock. 🎯

With this new tool, BNY will be able to broadcast a fund’s net asset value on the Ethereum (ETH) network. How exciting! 🎊

BNY Mellon’s new on-chain offering will help strengthen its presence in the blockchain technology space, focusing on the rapidly expanding tokenized assets market. 🚀

Digital Asset Data Insights will enable BNY to leverage smart contracts to automate data delivery for investors in tokenized funds. 🤖

“Accessing transparent data is critical to our clients’ success in today’s market,” said Caroline Butler, global head of digital assets at BNY. “Our platform’s support of Digital Asset Data Insights underscores our commitment to servicing the end-to-end asset lifecycle via distributed ledger technology, while maintaining data integrity from a trusted source.” 📝

The BlackRock USD Institutional Digital Liquidity Fund will be the first to benefit from this new solution. BUIDL, a tokenized short-term U.S. Treasury fund, will have its data broadcast onchain by BNY. 📈

Robert Mitchnick, BlackRock’s head of digital assets, had this to say about the latest development: “BNY’s enablement of off-chain data insights to public blockchains is an unprecedented event and a significant milestone for the industry. By enhancing data transparency and accessibility for our investors, BNY has set a new standard for digital asset innovation.” 🏆

New York City-headquartered BNY Mellon is the fund administrator and custodian of BUIDL’s assets. With over $52 trillion in assets under custody and administration, BNY has its sights set on distributed ledger technology for transparency and accessibility. The custodian behemoth has even invested in spot Bitcoin (BTC) exchange-traded funds and targeted crypto ETF custody amid regulatory review. 💰

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2025-04-03 19:41