BNY Mellon, the Wall Street giant overseeing $59 trillion in client assets, has announced a partnership with Finstreet and the ADI Foundation to expand digital asset infrastructure services in Abu Dhabi.

Significance

As the world’s largest custody bank, BNY Mellon’s move into crypto services in the Middle East represents a major milestone in the institutional adoption of digital assets. The partnership will provide institutional clients with digital asset custody and settlement capabilities in one of the fastest-growing crypto hubs globally.