BNY Mellon Plans Abu Dhabi Crypto Custody With Bitcoin And Ethereum Support

BNY is preparing to expand deeper into digital assets through Abu Dhabi, with plans to offer cryptocurrency custody services focused first on Bitcoin and Ethereum.

“BNY is preparing to expand deeper into digital assets through Abu Dhabi, with plans to offer cryptocurrency custody services focused first on Bitcoin and Ethereum”

Analytics Insight

The global financial services firm said the initiative is working with Finstreet and ADI Foundation to build a regulated digital asset infrastructure in Abu Dhabi Global Market, according to a Thursday press release.

Analytics Insight

The partnership will operate from Abu Dhabi Global Market, a financial free zone that has attracted crypto firms and blockchain projects entering the Middle East.

BNY said the first phase will focus on custody for major cryptocurrencies, including Bitcoin and Ethereum, and that later it may expand into stablecoins and tokenized assets.

The Block described BNY’s plan as an expansion of its crypto custody business to the UAE through partnerships with Finstreet and ADI Foundation, with an initial focus on custody of bitcoin and ether.

In that coverage, BNY’s executive vice chair Hani Kablawi said the UAE is entering a "new phase of financial development" and that the bank is prepared for "building the financial infrastructure for the future and unlocking new capabilities in the region and beyond."

BanklessTimes

FX News Group added that the collaboration is initially focused on supporting digital asset custody such as Bitcoin and Ethereum for Finstreet’s clients and ecosystem, and later the companies will explore an extension to ADI Foundation’s underlying blockchain rails.

BanklessTimes similarly framed the goal as giving UAE institutions a regulated, scalable way to hold crypto assets under familiar standards, with the service sitting in Abu Dhabi Global Market.

BNY’s scale is central to the pitch, with Analytics Insight saying the firm oversees about $59 trillion in assets under custody and administration, and The Block adding that BNY oversaw $59.4 trillion in assets under custody or administration as of March 31, 2026.

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Bitget

The Block also said BNY serves over 90% of Fortune 100 companies and had $2.1 trillion in assets under management, tying the custody expansion to broader institutional reach.

The planned scope extends beyond initial custody, with Analytics Insight stating that later the project may expand into stablecoins and tokenized assets, and Cointelegraph saying the companies intend to expand the product scope to include stablecoins, tokenized real-world assets and other regulated digital instruments.

Cointelegraph also noted that the initiative remains subject to definitive agreements and regulatory approvals, and that it is being offered from the Abu Dhabi Global Market (ADGM) on Al Maryah Island.