BNY Mellon
BNY Mellon is a global investment company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle.
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Galaxy Digital Q3 net income reached $323 million, adjusted EBITDA reached $455 million
Galaxy Digital released its Q3 2026 financial results, reporting a net profit of $323 million, marking a turnaround from an $85 million loss in the previous quarter. Adjusted EBITDA reached $455 million, while total assets grew sequentially by 51% to $16.4 billion. Cash, stablecoins, and U.S. Treasuries totaled $4.9 billion, nearly doubling quarter-over-quarter. In its digital asset business, trading volume increased sequentially by 12%, outperforming the broader spot market. The combined scale of asset management and staking grew sequentially by 46% to $10.4 billion, alongside a multi-year partnership with BNY Mellon to provide staking support for its digital asset custody platform. The data center business saw adjusted EBITDA rise nearly fivefold sequentially to $69 million, primarily driven by the first full operating quarter following the delivery of 133 MW of compute capacity for Phase I of Helios to CoreWeave. Phase II has broken ground with fully funded financing. The company completed a $3.5 billion issuance of senior secured bonds for this purpose, and its overall power pipeline has expanded to over 5.7 GW, with server room deliveries expected to begin in Q2 2027. Regarding capital operations, the $200 million share repurchase program launched in February was completed on October 15, with approximately 9.8 million shares cumulatively repurchased. On October 26, the Board of Directors approved a new $200 million repurchase authorization.
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Aviva Launches Tokenized Shares of Pound Fund on XRP Ledger
According to The Block, British insurer Aviva’s asset management firm Aviva Investors has partnered with Ripple to launch a tokenized share class for its £22 billion ($29.4 billion) Sterling Liquidity Fund on the XRP ledger. In a Monday announcement, Aviva committed £50 million ($66.7 million) to this new share class. The company currently has investments totaling over £86 million ($114.8 million) across its two tokenized money market fund products, which includes a U.S. dollar liquidity fund share class launched in July. Established in 2002, the Sterling Liquidity Fund invests in highly rated, pound-denominated short-term debt instruments, offers daily liquidity, is registered in Ireland, and qualifies as a UCITS money market fund. Under the fund's "digital twin" model, investor positions are represented on-chain, while the fund itself continues to operate off-chain. Investors must use compliant digital wallets to access the new share class. BNY Mellon holds the fund's assets, while digital asset custodian Komainu and digital infrastructure platform Licuido also support the launch.
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Aviva Investors Launches Tokenized Shares of Its Pound Liquidity Fund on the XRP Ledger
According to a press release published on Ripple's official website, Aviva Investors and Ripple have announced the launch of a tokenized share class for a British pound (GBP) liquidity fund on the XRP Ledger (XRPL). This marks the company's second existing fund to undergo tokenization, following the launch of a tokenized share class for its US dollar liquidity fund in July 2026. The GBP liquidity fund is Aviva Investors' largest fund, with approximately £22 billion in assets under management, and is registered in Ireland as a UCITS money market fund. Aviva itself has invested £50 million (approximately $66 million) into the new share class. Combined investments across both tokenized share classes exceed £86 million (approximately $116 million), making Aviva Investors one of Europe's largest providers of tokenized money market funds. The fund utilizes a "digital twin" model, representing investor holdings on-chain while preserving the off-chain fund structure. The tokenized shares carry the same investment objectives, risk characteristics, liquidity, and regulatory protections as traditional shares. The new shares are available to eligible investors holding digital wallets, and are powered by Komainu and Licuido, with assets remaining custodied by BNY Mellon.
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Two tokenized share classes have attracted over $116 million in total investments, as Aviva Investors launches a sterling liquidity fund share class on the XRP Ledger
Odaily reports: Ripple announced that Aviva Investors, the asset management arm of UK insurance group Aviva, has launched a tokenized share class of the Aviva Investors Sterling (GBP) Liquidity Fund on the XRP Ledger. The fund, with approximately £22 billion in assets under management, is Aviva Investors' largest fund; this marks the second tokenized share class of an existing fund for the company, following the launch of a tokenized share class for its US dollar liquidity fund in July 2026. The two tokenized share classes have now attracted over $116 million in total investments, with Aviva having invested $66 million into the new share class. The fund is an Ireland-domiciled UCITS money market fund that adopts a "digital twin" model, mapping its holdings on-chain while maintaining the off-chain fund structure; the underlying assets are custodied by BNY Mellon, with Komainu and Licuido providing digital asset custody and tokenization platform support, and the offering is open to qualified investors holding digital wallets.
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$2.3 Billion Outstanding Balance: Coinbase Crypto-Backed Loans Advance in Tandem with Onchain Bank Deposits
Coinbase's outstanding balance for crypto-backed loans has reached $2.3 billion, with the product launching in January 2025. Eligible users outside New York State can pledge Bitcoin to borrow USDC without selling their holdings, with loans routed through the Morpho decentralized lending protocol on the Base network. On September 22, Coinbase added fixed-rate loans through Morpho Midnight, and pledgeable assets have expanded to XRP, DOGE, ADA, and LTC. As of mid-September 2026, floating-rate loans have exceeded $1.4 billion, backed by approximately $3 billion in collateral.JPMorgan's JPMD tokenized deposits have been running on Base for institutions since mid-2026, with Citi and BNY Mellon also advancing related initiatives, and multiple UK banks planning to launch related networks in 2027.
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Citadel Securities and BNY Complete a Tokenized U.S. Treasury Repo Transaction
Odaily News: Citadel Securities and Bank of New York Mellon (BNY) have completed a tokenized U.S. Treasury repurchase transaction. Citadel Securities used tokenized two-year U.S. Treasury notes as collateral for an overnight repo transaction, with BNY providing cash.BNY stated that this is the first time tokenized assets have been used on a major tri-party repo platform. The relevant Treasuries were purchased through the Tradeweb platform, and the tokenized version settled within minutes, significantly shorter than the traditional T+1 settlement cycle. (Coin Bureau)
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BNY Mellon and Castle Securities Complete Tokenized U.S. Treasury Triparty Repo Transaction
According to an official announcement, Bank of New York Mellon (BNY) and Citadel Securities have completed a tri-party repo process using tokenized U.S. Treasuries, marking the first use of tokenized assets on a major tri-party platform. In the transaction, a two-year U.S. Treasury bond purchased by Citadel Securities was recorded as a tokenized security on BNY’s private distributed ledger and settled within minutes, breaking the traditional T+1 settlement cycle. Subsequently, the tokenized Treasury was used as collateral for an overnight tri-party repo, with BNY providing the corresponding funding. BNY stated that it plans to launch digital cash and tokenized deposit features in the future to support institutional clients in conducting on-chain settlement and financing activities, and intends to extend operating hours for its traditional settlement platforms.
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Singapore Gulf Bank adopts BNY's 24/7 USD settlement service, covering weekends and U.S. public holidays
Odaily News: Singapore Gulf Bank has adopted BNY's 24/7 USD ledger transfer service, allowing eligible corporate and retail clients to settle qualifying USD payments on weekends and U.S. public holidays.The service supports account funding, corporate payables, and time-sensitive cross-border cash management transactions, with USD able to be settled at any time between eligible accounts held directly at BNY or through correspondent banks connected to the network. Singapore Gulf Bank stated that it is among the first financial institutions globally to adopt the system.Bana Akkad Azhari, BNY's Head of Global Payments and Trade for EMEA, said that round-the-clock USD settlement can enhance institutions' flexibility in liquidity management and meeting urgent financial obligations. The service is only available to eligible institutions and accounts and does not replicate permissionless blockchain settlement models. (Bitcoin.com News)
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BNY is in talks with Payward, Kraken's parent company, on an infrastructure partnership.
BNY Mellon is in talks with Payward, the parent company of the crypto platform, which is investing heavily to transform into a unified infrastructure provider for trading, payments, and asset management.
Kraken
Open Standard's stablecoin OUSD officially launches, issued by Stripe-owned Bridge
Odaily News: Open Standard has announced the official launch of its USD stablecoin OUSD. Enterprises and developers can now use OUSD to build internet-native financial services and products for banking, cross-border payments, settlement, and institutional trading. OUSD offers 4 integration paths, with related APIs and tools covering settlement, payment orchestration, trading, foreign exchange, wallets, and card services, all supporting free minting and burning at a 1:1 USD rate.Enterprises can currently access it through Mastercard, Stripe, and the Visa Stablecoin Platform, with Coinbase integration opening on October 1. OUSD will natively support Base, Ethereum, Solana, and Tempo, and will first launch on centralized and decentralized trading platforms including Coinbase, Kraken, and Uniswap. OUSD is issued by Stripe-owned Bridge, with reserve assets held at BlackRock, Lead Bank, and BNY Mellon, and proof of reserves will be published monthly.
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Major U.S. Banks Raise Prime Rate to 7%
JPMorgan Chase, KeyCorp, and Bank of New York Mellon announced they will raise their prime rates from 6.75% to 7%, with the new rate taking effect on Thursday. This move will directly increase borrowing costs for consumers and businesses.
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Grayscale Files Fifth Amendment Application with SEC, Zcash ETF Progress Accelerates
According to The Block, on August 21, Grayscale filed its fifth amendment application with the U.S. Securities and Exchange Commission (SEC) to further advance the listing plan for its Zcash ETF. The latest filing shows that the product will be officially renamed "The Zcash ETF," with an annual management fee set at 2.5%. It is planned to list on the NYSE Arca exchange under the ticker "ZCH," with Coinbase Custody Trust Company serving as the custodian and BNY Mellon as the transfer agent. The ETF will convert from Grayscale's existing Zcash Trust, which has been operating since 2017 and currently holds over $260 million in assets under management. In a previous fourth amendment filing, a subsidiary of Grayscale's parent company, Digital Currency Group, had already been negotiating to inject approximately 200,000 ZEC into the fund.
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Analysis: The Era of "Bitcoin vs. Banks" Is Ending, Trillion-Dollar Financial Institutions Accelerate Crypto Adoption
Odaily News: As Wall Street and global financial institutions accelerate their entry into the digital asset space, the boundaries between traditional finance (TradFi) and decentralized finance (DeFi) are gradually blurring. Bitwise CEO Hunter Horsley stated that the era of "going long Bitcoin and short bankers" is over, and financial institutions are pivoting to the other side of the crypto industry, driving digital asset adoption.Hunter Horsley noted that this summer, two financial institutions, each managing over $1 trillion in assets, approved the launch of crypto products in a bear market environment, showing that large institutions are expanding client access to digital assets. "Everyone put on the crypto jersey this year. Now, everyone is working for the crypto industry," Horsley said. He pointed out that these institutions, managing over a trillion dollars in client assets, would not have opened such services during the 2022 crypto market downturn, but are now actively embracing this sector.Fabian Dori, Chief Investment Officer at Sygnum, also believes the relationship between banks and the crypto industry has undergone a structural shift. "The trade of 'going long Bitcoin and short bankers' is over. Banks have moved from resisting digital assets to building, supporting, and distributing them through custody, tokenization, and compliant trading," a change driven primarily by growing client demand and gradually clarifying regulatory rules, rather than short-term market cycles.Nathan McCauley, CEO of Anchorage Digital, said that over the past two years, its client base has increasingly reflected the convergence of traditional and crypto finance. Large financial institutions typically choose to partner with specialized crypto infrastructure companies rather than building their own technology systems.In recent years, a growing number of financial institutions have entered the crypto space, including Swissquote, DBS Bank, BBVA, BNY Mellon, Credit Suisse-affiliated entities, as well as Morgan Stanley and Charles Schwab. (CoinDesk)
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BNY Mellon 携手 Galaxy 为机构客户上线加密质押服务
According to CoinDesk, BNY Mellon (The Bank of New York Mellon) announced a partnership with crypto financial services company Galaxy (GLXY), planning to add staking functionality to its digital asset custody platform. Institutional clients will be able to stake digital assets in custody directly through the BNY platform without needing to transfer tokens to third-party service providers. The service is pending regulatory approval before officially launching. Galaxy will be responsible for providing staking infrastructure and will participate in platform expansion as a design partner.
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BlackRock Launches Two New Tokenized Money Market Funds, BSTBL and BRSRV, Accelerating On-Chain Cash Management Push
: Asset management giant BlackRock has announced the launch of two tokenized money market products: the BlackRock Select Treasury Based Liquidity Fund (BSTBL) and the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV). BSTBL will offer Ethereum-based tokenized shares of an existing money market fund. These on-chain shares can be transferred between approved wallets, subject to regulatory compliance. BNY Mellon will serve as the transfer agent and tokenization service provider for BSTBL. BRSRV, meanwhile, is a new tokenized money market fund designed for digital-native institutional investors, supporting daily dividend reinvestment and multi-blockchain access, and can be used for a variety of digital asset applications, including stablecoin reserve management. Securitize will serve as the transfer agent and tokenization service provider for this fund.
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BNY Migrates $8.6 Trillion Transfer Agency Business to Blockchain
According to CoinDesk, the world's largest custodian bank, The Bank of New York Mellon (BNY), announced it will migrate its transfer agent core bookkeeping business to the blockchain, involving approximately $8.6 trillion in assets and 7.6 million accounts, aiming to establish a single on-chain ownership ledger and reduce reliance on multi-layer intermediaries. BNY client Baillie Gifford (managing over $261 billion) will be the first to use the service, launching the UK's first fully locally regulated tokenized fund, while BlackRock and its money market business Dreyfus also plan to follow suit. BNY stated that existing traditional systems will continue to run in parallel, with trillions of dollars in funds remaining on the traditional track in the short term.
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BNY Mellon Migrates $8.6 Trillion Fund Services Transfer Agent Records to Blockchain
: BNY Mellon is migrating its core transfer agent records onto the blockchain to create a single, on-chain ownership ledger and reduce reliance on intermediaries. The initiative will initially support clients including Baillie Gifford, BlackRock, and BNY's own Dreyfus, covering the first fully native, UK-regulated tokenized fund and other planned tokenized products. BNY and other major banks are building blockchain-based infrastructure and tokenized deposit networks. The bank anticipates that legacy systems will continue to coexist for several more years amid persistent cybersecurity and smart contract risks.
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BNY Mellon European Subsidiary Included in MiCA Registration, ESMA Adds 15 Crypto-Asset Service Providers
According to Cointelegraph, the European Securities and Markets Authority (ESMA) updated the registration list for the third time after the MiCA transition period deadline, adding 15 crypto-asset service providers, bringing the total number of licensed institutions to 309. New institutions include BNY SA/NV, the European subsidiary of BNY Mellon, 3 German banks, and digital asset platforms such as BitPay, Coinify, and Bleap.
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ESMA adds 15 crypto service providers to MiCA registry, including BNY Mellon subsidiary
the European Securities and Markets Authority (ESMA) updated the provisional MiCA registry on Friday, adding 15 licensed crypto asset service providers (CASPs), bringing the total number to 309. The newly added institutions include BNY SA/NV, the Belgian subsidiary of US banking giant BNY Mellon. This latest batch includes four banking institutions, three of which are from Germany, alongside digital asset platforms such as BitPay, Coinify, and Bleap. Germany and Denmark each added three CASPs, Bulgaria and Latvia each added two, while Belgium, Cyprus, Liechtenstein, and the Netherlands each added one. ESMA stated that this update did not alter other MiCA-related registries, including those for asset-referenced tokens (ARTs), e-money tokens (EMTs), authorized issuers of crypto assets, and the list of non-compliant entities. Following the previous transitional deadline on July 1, ESMA’s second update had added 14 CASPs, including Ripple Payments Europe.
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BNY Mellon, which manages $62.6 trillion in assets, plans to launch a 24/7 tokenized U.S. Treasury settlement service by 2027
: BNY Mellon, which manages total assets of $62.6 trillion, plans to launch a 24/7 tokenized U.S. Treasury settlement service by 2027 and will begin a private blockchain pilot by the end of this year.
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