BNY Mellon Launches Tokenized Deposits for Institutional Digital Cash Infrastructure

TLDR: BNY Mellon creates on-chain mirror of client deposits on permissioned blockchain for institutional use cases Major firms including Citadel Securities, ICE, and Circle participate in tokenized deposit program launch Platform initially targets collateral and margin workflows with plans for real-time cash movement capabilities Tokenized deposits maintain traditional banking safeguards while enabling 24/7 settlement and [...]

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