The Bank of New York Mellon, the oldest bank in the United States, has been chosen as the main manager of a fund for digitized treasury bills by a leading RWA tokenization platform. This partnership is a testament to the platform’s achievements in the DeFi space and their dedication to shaping the future of financial infrastructure. The fund, launched in 2023, has received an “A” investment rating from Moody’s and is the first of its kind to do so. BNY Investments Dreyfus, a renowned liquidity manager, will serve as a sub-manager for the fund, while BNY will act as the primary custodian for the underlying assets. This collaboration highlights the commitment of both companies to bringing compliant and institutional-grade assets to the blockchain. The CEO and Founder of the tokenization platform expressed excitement about the partnership, stating that it marks a critical milestone in their mission to provide secure and transparent tokenized financial products. BNY has been at the forefront of incorporating digital assets into its global reach, with a dedicated unit established in 2021 and various initiatives such as Bitcoin custody services and preparations for ETF management services. This partnership further solidifies their position as a leader in the digital assets space.
Source:Read More