BNY Mellon Tests Tokenized Deposits to Facilitate $2.5T Daily Payments

Key Takeaways BNY Mellon is piloting tokenized deposits to upgrade its payment network using blockchain technology.The initiative aims to enable real-time, global payments and reduce reliance on legacy systems.The move follows BK's broader blockchain collaborations with Goldman Sachs and SWIFT.The Bank of New York Mellon Corp. (BK) is exploring tokenized deposits to accelerate its efforts to modernize its payment network and expand the use of blockchain in global finance. This was reported by a Cryptonews a ...