Bank of New York Mellon: Focusing on stablecoin infrastructure, not considering issuing its own tokens for now

Bank of New York Mellon (BNY Mellon) executives said during a recent earnings call on Thursday that the bank has brought forward several blockchain-related investments to 2025, including those supporting real-world asset settlement and tokenized payments. Executives attributed the accelerated pace to a more "positive" regulatory environment and improved market conditions. When asked whether BNY Mellon plans to issue its own stablecoin, CEO Robin Vince did not provide a definitive answer, but stated that the bank's strategy focuses on supporting the broader ecosystem rather than launching its own branded token. A BNY Mellon-branded stablecoin could serve institutional use cases, such as settling tokenized assets or facilitating intraday liquidity. However, for now, the bank appears more focused on building flexible infrastructure than launching products. "We're in the business of building infrastructure and enabling capital markets, and working with stablecoins and supporting other stablecoins is core to our strategy," Vince said during the call. Furthermore, the company said it has reallocated approximately $500 million in cost savings this year to growth initiatives, including in digital assets and artificial intelligence. These efficiency gains are the result of internal process optimizations and have not significantly expanded the company's expense base. (CoinDesk)