According to reports, BNY Mellon, the world's largest custodial bank, is launching a tokenized balance service. The development signals a move towards onchain finance by a major institutional player. Tokenization involves representing real-world assets on a blockchain, potentially increasing efficiency and transparency. This move by BNY Mellon could encourage further institutional adoption of decentralized finance (DeFi) and blockchain technology by bridging traditional finance with new digital asset infrastructure.

According to reports, BNY Mellon, the world's largest custodial bank, is launching a tokenized balance service. The development signals a move towards onchain finance by a major institutional player. Tokenization involves representing real-world assets on a blockchain, potentially increasing efficiency and transparency. This move by BNY Mellon could encourage further institutional adoption of decentralized finance (DeFi) and blockchain technology by bridging traditional finance with new digital asset infrastructure.