Bank of New York Mellon ventures into tokenization deposits, allowing $2.5 trillion in cash flow to settle instantly, 24/7.

BNY Mellon is researching “tokenization of deposits” with the goal of transferring its daily cash flow of up to $2.5 trillion to the blockchain and enabling real-time, 24/7 settlement.

BNY enters the blockchain payment space, allowing daily $2.5 trillion in cash flow to go on-chain.

Carl Slabicki, head of BNY's treasury services platform, stated that the bank is testing the use of Blockchain technology to tokenize part of the payment process, allowing customers to make real-time transfers globally, no longer restricted by the business hours and batch processing of traditional financial systems.

He emphasized that tokenization of deposits can assist banks in breaking through the limitations of outdated technological frameworks. As international standards gradually mature, the future tokenized payments between different banks can also achieve interoperability, expanding market applications. He added that BNY's financial services process about 2.5 trillion dollars in cash flow daily, and the introduction of blockchain helps further enhance overall operational efficiency and immediacy.

Actively exploring tokenization applications and partnering with Goldman Sachs to promote the “tokenized fund”.

This is not the first time BNY has publicly announced its exploration of tokenization applications. In July of this year, BNY collaborated with Goldman Sachs (Goldman Sachs) to provide tokenized money market fund services for institutional clients, aiming to enable traditional financial assets to be traded and settled 24/7, with fund holding records being logged on Goldman Sachs' private blockchain.

Institutions participating in the program include BlackRock (, Fidelity ), and Federated Hermes (, among other large asset management firms.

Official press release image of BNY's collaboration with Goldman Sachs participating in the SWIFT Blockchain ledger project to create a globally shared payment network.

BNY is also one of over 30 financial institutions collaborating with the global cross-border payment infrastructure SWIFT, currently co-developing a blockchain-based “shared ledger system” for real-time international payments.

The purpose of the plan is to enable cross-border payment flows to synchronize clearing and settlement on a single platform, reducing duplication of work and delays.

The image shows a list of 30 financial institutions collaborating with SWIFT, including BNY. Global banks are actively promoting experimental programs such as “tokenization of deposits and payments.”

In recent months, not only BNY, but major banks around the world have also begun launching similar plans:

May 2025: HSBC ) launches cross-border tokenization deposit services for corporate clients in Hong Kong.

June 2025: JPMorgan launches its own tokenization deposit token pilot program “JPMD” for cross-border corporate payments.

September 2025: Japan's SBI Shinsei Bank (SBI Shinsei Bank) signs a memorandum of understanding with Singapore's Partior and Japan's DeCurret DCP to jointly develop a multi-currency tokenization deposit framework, enabling real-time settlement between national currencies on the blockchain.

The three major areas are the efforts to promote the widespread application of “tokenization deposits”.

Overall, “tokenization of deposits” is becoming an important direction for the digitization of traditional finance, but to truly take off, it still needs to:

Unify technical standards and achieve cross-chain interoperability.

Clarify regulatory supervision and settlement mechanisms.

Verify market demand and feasible business model.

Only by making progress in these three major areas can the daily payment flow of trillions of dollars globally truly “go fully on-chain.”

This article discusses how Bank of New York Mellon is entering the tokenization of deposits, allowing a flow of 2.5 trillion dollars to settle instantly, 24/7. It first appeared in Chain News ABMedia.