BNY, a global financial services company with over $57.8 trillion in assets under custody, has launched its tokenized deposit offering as Wall Street’s push into the tokenized assets space accelerates.
The move, announced on January 9, 2026, builds on other initiatives that have seen BNY expand its presence in the digital assets investment space.
BNY eyes tokenized deposits amid institutional push
As for why BNY is taking this step, the bank said it’s down to the shift in global financial markets, with “an always-on operating model” being the trend.
The world sees institutions increasingly go for faster and more efficient ways of moving assets, and the blockchain offers the platforms for greater settlement certainty, transparency, and lower friction.
Institutions can also tap into these assets to unlock liquidity, be it across collateral and margin workflows, or programmable payments.
Tokenized deposits for clients are BNY’s step towards a rules‑based, near-real-time cash movement.
Details show that the tokenized deposits will target use across collateral and margin payments.
Key early adopters of the product include the Intercontinental Exchange (ICE), Citadel Securities, DRW and stablecoin issuer Circle.
Additional participants include Ripple Prime, Galaxy, Invesco, Anchorage Digital and Paxos.
“We welcome BNY’s support of an always-on financial system, tokenized money and payment stablecoins like USDC,” said Dante Disparte, chief strategy officer and head of global policy and operations at Circle.
“Showing interoperability between these systems not only builds durable bridges between the real economy and the broader internet financial system but also demonstrates that speed and new use cases do not come at the expense of safety and soundness expectations of the world’s leading financial institutions,” he added.
Stablecoin regulation key
BNY’s push into digital assets spans several initiatives announced over recent years.
These include its participation in Singapore’s Project Guardian, where it has been involved in a pilot focused on the interoperability of tokenised deposits.
The NYSE-listed Bank of New York Mellon reported further progress in November 2025, when it launched a stablecoin reserves fund.
Known as the BNY Dreyfus Stablecoin Reserves Fund, or BSRXX, the money market fund is aimed at institutional investors and is designed to enable U.S. stablecoin issuers and other institutions to hold reserve assets in line with the requirements of the GENIUS Act.
The fund itself does not invest in stablecoins.
“Cash is the cornerstone of the digital asset ecosystem, enabling global capital markets to move toward an always-on, 24/7 environment,” said Stephanie Pierce, deputy head of BNY Investments, said at the time.
“Stablecoins are at the forefront of this profound transformation, and we are proud to provide our liquidity leadership and expertise to stablecoin issuers with the launch of the BNY Dreyfus Stablecoin Reserves Fund.”
The stablecoin market is expected to grow to over $1.5 trillion by 2030. Analysts also project rapid growth for the real-world assets market as value comes onchain.
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