Blackrock takes advantage of Bny to publish fund data on Ethereum

Bny has announced the expansion of its digital asset platform with the launch of a new tool aimed at delivering accounting data inside and outside the chain to the Blockchain networks.

Editor's note: This article was updated to reflect that the company is known as “BNY”, no “Bny Mellon.”

Bny, the world's largest custodian, said in a Press release That he was launching the digital asset data product, a data tool aimed at providing security and efficiency to the offer and access to accounting data through blockchains.

The new tool, which will cause the Global Asset Manager Blackrock to become the first client, will allow BNY to transmit the value of net assets of a background on the ethereum network (eth).

Consequently, the new chain offer of the Financial Services Giant helps reinforce its footprint in the Blockchain technology space. According to the announcement, part of the approach is in the quick expansion tokenized assets market.

Digital Asset Data Insights will allow BNY to take advantage of intelligent contracts to automate data delivery for investors in tokenized funds.

“Accessing transparent data is essential for the success of our customers in the current market,” said Caroline Butler, global director of digital assets in BNY. “The support of our platform to the knowledge of digital asset data underlines our commitment to address the life cycle of end -to -end assets through distributed accounting technology, while maintaining the integrity of the data of a reliable source.”

The Blackrock USD Institutional Liquidity Fund will be the first to benefit from the new solution.

Buidl, which was launched in 2024 and is a US Treasury background.

When commenting on the last development, said Blackrock Digital Assets Chief Robert Mitchnick:

“Bny's qualification of data knowledge outside the chain for public blockchains is an unprecedented event and a significant milestone for industry. By improving the transparency and accessibility of data for our investors, BNY has established a new standard for digital asset innovation.”

Bny, based in New York City, is the Funds and Custodian administrator of Buidl assets.

Bny, which supervises more than $ 52 billion in assets in custody and administration, as well as more than $ 2 billion in assets under administration, the technology of the main book distributed for transparency and accessibility. The custodian giant has invested in funds quoted in Spot bitcoin (btc) and the custody of cryptographic ETF directed in the middle of a regulatory review.