The Bank of New York Mellon Corporation (BNY) (NYSE: BK), a global financial services company, announced the expansion of its Digital Asset Platform with the launch of its Digital Asset Data Insights product, designed to securely and efficiently “deliver both on- and off-chain data across blockchain networks.”

The launch underscores BNY’s aim to serve an “expanded, fundamental role in the lifecycle of tokenized assets.”

With the BNY data on-chain capability, BNY will broadcast “select fund accounting data to the Ethereum network, enabling further utility of public blockchains.”

Using smart contract technology, BNY will automate “data consumption so that investors and on-chain participants may further capitalize on distributed ledger technology (DLT).”

Caroline Butler, Global Head of Digital Assets at BNY said:

“Our platform’s support of Digital Asset Data Insights underscores our commitment to servicing the end-to-end asset lifecycle via distributed ledger technology, while maintaining data integrity from a trusted source.”

BlackRock will be the first client to leverage this product.

BNY will broadcast fund accounting data “for the BlackRock USD Institutional Digital Liquidity Fund, its tokenized short-term U.S. Treasury fund. BNY currently acts as fund administrator and custodian of the Fund’s assets.”

BNY’s Digital Asset Platform is a single, “integrated platform for the safekeeping, servicing and management of digital assets.”

The platform leverages blockchain and tokenization technologies “to create new opportunities to unlock asset utility, broaden distribution channels, manage risk and inform investment decisions as the market evolves.”

As covered, BNY is a global financial services company “that helps make money work for the world – managing it, moving it and keeping it safe.”

BNY has partnered alongside clients, “putting its expertise and platforms to work to help them achieve their ambitions.”

BNY supports governments in funding local projects and “works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals.”

As of December 31, 2024, BNY oversees “$52.1 trillion in assets under custody and/or administration and $2.0 trillion in assets under management.”

BNY is the corporate brand of The Bank of New York Mellon Corporation.

Headquartered in New York City, BNY reportedly employs over “50,000 people globally.”