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TechFlow, Jan. 09 — According to Bloomberg, Bank of New York Mellon Corp. announced the launch of a tokenized deposit service on Wednesday, allowing clients to transfer funds via blockchain technology, making it the latest major global bank to dive into digital assets.
The service represents customers’ bank deposits in on-chain form, which can be used for collateral and margin trading, and enables faster payment processing.
According to Bloomberg, Bank of New York Mellon Corp. announced the launch of a tokenized deposit service, allowing clients to transfer funds using blockchain technology, becoming the latest major global bank to dive into the digital asset space. The service represents clients' bank deposits in on-chain form, which can be used for collateral and margin transactions, and can accelerate payment processes.
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