BNY Mellon launches a blockchain-based transfer agency platform to modernize fund ownership records and investor transactions.
BNY Mellon is shifting its transfer agency records onto a blockchain platform, marking a significant step in digitizing core financial infrastructure. The bank, a leading global custodian, will migrate fund ownership records and investor transactions to an on-chain system, aiming to streamline operations behind every fund transaction.
The initiative follows BNY Mellon’s broader expansion into digital assets, including progress under the EU’s Markets in Crypto-Assets (MiCA) framework. Transfer agents traditionally manage share ownership records, process transactions, and handle communications between funds and investors.
The move positions BNY Mellon at the forefront of institutional blockchain adoption, reflecting growing demand for modernized financial record-keeping systems.