The world’s largest custody bank enters Abu Dhabi’s regulated digital asset hub, expanding institutional crypto offerings.
Bank of New York Mellon Corp has launched digital asset custody services in Abu Dhabi Global Market, the emirate’s financial free zone. The move marks the bank’s first crypto custody expansion in the Middle East, targeting institutional investors in the region’s growing digital asset market.
BNY Mellon, which holds over $46 trillion in assets under custody, received regulatory approval from Abu Dhabi’s Financial Services Regulatory Authority. The bank previously launched crypto custody services in the U.S. and Europe, positioning itself as a key player in institutional digital asset infrastructure.
The expansion aligns with Abu Dhabi’s push to become a global crypto hub, following recent regulatory frameworks for digital assets. No immediate market reaction was reported.