BNY, world's largest custody bank, expands crypto services in Abu Dhabi

The Wall Street giant, which oversees $59 trillion in client assets, teamed up with Finstreet and ADI Foundation for digital asset infrastructure.\nWhat to know : BNY plans to offer digital asset custody services in Abu Dhabi through local partners Finstreet and ADI Foundation. The initiative will initially focus on custody services for cryptocurrencies like bitcoin (BTC) and ether (ETH), with plans to later expand to stablecoins and tokenized assets. The move underscores the United Arab Emirates' ambitions to become a global hub for tokenized finance and digital assets.