The world’s largest custodian will keep its existing system while adding a digital ownership record for tokenized funds. Bank of New York Mellon is shifting its core transfer agency record-keeping onto blockchain to create a single on-chain ownership ledger and reduce reliance on intermediaries. The move will initially support clients including Baillie Gifford, BlackRock and BNY’s Dreyfus unit for what is described as the first fully native U.K.-regulated tokenized fund and other planned tokeni…
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