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Techub News, according to Bitcoinist, BNY, the world's largest custodian bank, announced a strategic partnership with Finstreet Limited and the ADI Foundation to establish a regulated institutional-grade digital asset custody infrastructure in the Abu Dhabi Global Market. This collaboration marks the first time a U.S. global systemically important bank has introduced crypto custody services to the UAE. The initial phase supports Bitcoin and Ethereum custody, with plans to later expand to stablecoins and tokenized real-world assets. BNY has provided digital asset custody services for select U.S. clients since 2022 and obtained an ADGM Category 4 license prior to this expansion. Finstreet will provide the digital market ecosystem and trading infrastructure, while the ADI Foundation will offer sovereign-level blockchain support through its Layer 2 blockchain, ADI Chain. This partnership remains subject to final agreements and regulatory approvals.
Techub News reports, according to CoinPost, that custodian bank BNY has announced a strategic partnership with Finstreet Limited and the ADI Foundation, planning to provide compliant Bitcoin and Ethereum custody services for institutional investors in the Abu Dhabi Global Market. The bank currently manages approximately $59.4 trillion in assets under custody. The collaboration will combine Finstreet's digital market infrastructure with ADI Chain's blockchain network to build a local integrated custody solution in Abu Dhabi. BNY plans to initially offer Bitcoin and Ethereum custody for Finstreet clients, with future plans to expand to regulated digital assets such as stablecoins and real-world asset tokenization.
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