BNY Eyes Blockchain for Real-Time Tokenized Payments

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BNY, the largest custodian bank in the world, is exploring tokenized deposits to enable clients to transfer funds instantly, 24/7, while easing constraints of its legacy systems.

Carl Slabicki, executive platform owner for Treasury Services at BNY, told Bloomberg that the project is part of an effort to upgrade real-time and cross-border payments, aiming to move a portion of its $2.5 trillion daily payment flow onto blockchain rails.

Tokenized deposits can help “banks overcome legacy technology constraints, making it easier to move deposits and…



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BNY Eyes Blockchain for Real-Time Tokenized Payments


BNY, the largest custodian bank in the world, is exploring tokenized deposits to enable clients to transfer funds instantly, 24/7, while easing constraints of its legacy systems.

Carl Slabicki, executive platform owner for Treasury Services at BNY, told Bloomberg that the project is part of an effort to upgrade real-time and cross-border payments, aiming to move a portion of its $2.5 trillion daily payment flow onto blockchain rails.

Tokenized deposits can help “banks overcome legacy technology constraints, making it easier to move deposits and…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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