New York Mellon Bank Launches Tokenized Deposit Service, Allowing Users to Transfer Funds via Blockchain Channel

BlockBeats News, January 10th, according to Bloomberg, BNY Mellon has launched a tokenized deposit service, allowing customers to transfer funds through blockchain channels, becoming another global major bank deepening its involvement in the digital asset field.

The bank stated in a Friday announcement that this form of digital cash is an on-chain representation of customer account deposits at the bank. The bank said that this service can be used for collateral and margin trading, achieve faster payments, and BNY Mellon is committed to achieving 24/7 operation.