BNY Launches Global Digital Transfer Agency Capabilities, Extending Leadership in Fund Servicing to Digital Market
Rhea-AI Summary
BNY (NYSE: BNY) launched global Digital Transfer Agency (TA) capabilities, extending its fund servicing to digitally native funds across multiple jurisdictions and blockchains. The platform supports end-to-end lifecycle servicing for both digital and traditional asset funds, integrating tokenization, distribution and custody.
Initial issuers include BNY Investments Dreyfus, Baillie Gifford and BlackRock. Offerings feature BLIQUID tokens for a digitally native money market fund, Baillie Gifford’s BAGEY tokenized fund, and BlackRock’s BSTBL tokenized share class. BNY cites approximately $8.6 trillion in assets serviced, 7.6 million investor accounts, $62.6 trillion in assets under custody/administration and $2.2 trillion in assets under management as of June 30, 2026, positioning it to support growth in on-chain fund structures.
Positive
- Digital TA launch extends fund servicing to digitally native, on-chain funds across jurisdictions
- Integrated digital assets offering spans custody, stablecoin enablement, tokenized deposits and infrastructure
- Blue-chip early adopters: BNY Investments Dreyfus, Baillie Gifford and BlackRock using Digital TA
- $8.6 trillion in assets serviced and 7.6 million investor accounts support scale
- $62.6 trillion assets under custody/administration and $2.2 trillion AUM as of June 30, 2026
Negative
- None.
News Explained
BNY has moved digital-fund servicing into an initial client rollout, with product launches and geographic expansion still staged rather than fully completed.
BNY has launched its Digital Transfer Agency capability, initially with select clients in the U.S. and U.K.; the structural change is a new servicing offering for digital funds alongside traditional funds, rather than a disclosed issuance of BNY common shares.
For these funds, the release describes legal title and economic value as existing on-chain from issuance, with blockchain books and records serving as the fund’s ownership and transaction record; fiat and stablecoin subscriptions and redemptions are supported through mint-and-burn capabilities.
The rollout is at different stages: Baillie Gifford has already brought its BAGEY fund to market, while BNY’s BLIQUID fund is offered as a planned product and BlackRock is expected to use the capability for BSTBL.
The specific milestones to monitor are the launch of BLIQUID, BlackRock’s BSTBL share class, and the planned expansion beyond the initial U.S. and U.K. client set.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BNY Investments Dreyfus, Baillie Gifford and BlackRock among first issuers
BNY Digital TA modernizes BNY's fund servicing capabilities to support both digital and traditional asset funds in an end-to-end lifecycle across multiple jurisdictions and blockchains, enabling a unified client servicing experience.
"With this new capability, BNY is helping power the future of financial markets through digital market infrastructure with a global, scalable platform that integrates tokenization, distribution, and custody," said Emily Portney, Global Head of Asset Servicing at BNY. "We are excited to support clients as they expand into new asset classes, enabling true on-chain mobility of real-world assets, with legal representation of the fund's books and records on a public blockchain."
When tokenized funds are issued on a blockchain from the start, the legal title and economic value of the funds exist on-chain rather than remain in the mirror-token or "digital twin" models that have prevailed to date. For fund providers, on-chain books and records underpin a unified "source of truth" across fund activity occurring on the blockchain. Full on-chain asset and peer-to-peer mobility will be supported through both fiat and stablecoin subscriptions and redemptions, enabled by new mint/burn capabilities, all within the BNY ecosystem.
"Digital Transfer Agency capabilities represent the next evolution of fund servicing, combining the same operational rigor, transparency and trust of traditional services paired with the future of innovation in digital markets," said Carolyn Weinberg, Chief Product and Innovation Officer at BNY. "As fund managers increasingly bring digital investment products to market, we're excited to bring together the resilient framework they rely on with digital markets interoperability that makes asset servicing and mobility easier."
Digital TA is part of BNY's integrated digital assets offering, which spans custody, stablecoin enablement, tokenized deposits and infrastructure supporting the institutional adoption of digital assets. Those capabilities are directly connected to the firm's underlying TA recordkeeping infrastructure, creating a trusted source of ownership and transaction data across both traditional and digital environments.
"We are pleased to advance BNY's ongoing efforts to bring together distinct capabilities into integrated, innovative solutions that address evolving client needs," said Stephanie Pierce, Deputy Head of BNY Investments. "Digital TA will further strengthen our ability to combine investment and servicing expertise to deliver digital asset solutions that simplify cash and liquidity management."
The service will initially launch with select clients in the
With approximately
To learn more about BNY's Digital Assets offering, visit: bny.com/digitalassets
Media Contact:
Rebecca Vignali
703.505.7954
Rebecca.Vignali@bny.com
About BNY
BNY is a global financial services platforms company at the heart of the world's capital markets. For more than 240 years BNY has partnered alongside clients, using its expertise and platforms to help them operate more efficiently and accelerate growth. Today BNY serves over
BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BNY). Headquartered in New York City, BNY has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators.
BNY Investments is the brand name for the investment management business of BNY and its investment firm affiliates worldwide.
The fund is designed for purchase by stablecoin issuers and institutional investors. The Fund's shares are also available for purchase by institutional investors, who are acting for themselves.
Investors should consider the investment objectives, risks, charges, and expenses of a money market fund carefully before investing. To obtain a prospectus, or summary prospectus, if available, that contains this and other information about the fund visit www.dreyfus.com. Investors should read the prospectus carefully before investing.
You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at
Although the fund's board has no current intention to impose a fee upon the sale of shares, the board reserves the ability to do so after providing at least 60 days prior written notice to shareholders.
The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYIA). BNYIA has engaged its affiliate, Dreyfus, a division of Mellon Investments Corporation, to serve as the fund's sub-adviser. Securities are offered by BNY Mellon Securities Corporation (BNYSC), a registered broker-dealer and affiliate of MIC.
BNY Investments Dreyfus (Dreyfus) is a division of Mellon Investments Corporation (MIC), a registered investment adviser and subsidiary of BNY.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security.
View original content to download multimedia:https://www.prnewswire.com/news-releases/bny-launches-global-digital-transfer-agency-capabilities-extending-leadership-in-fund-servicing-to-digital-market-302838040.html
SOURCE BNY