BNY, described by outlets as the world’s largest custody bank, is expanding its crypto custody offering in the UAE through partnerships with Finstreet and the ADI Foundation. According to the reports, the initiative is aimed at institutional clients and focuses on providing regulated custody services for digital assets in Abu Dhabi. CoinDesk, The Block, and Cointelegraph all say the expansion is connected to Abu Dhabi and is facilitated by the new partnerships, with Cointelegraph specifying that Bitcoin and Ethereum custody are part of the planned services. Cointelegraph adds that the services are intended to be provided for UAE clients via the Abu Dhabi Global Market, a regulated financial hub in the emirate.
Across the sources, BNY is presented as extending its existing custody capabilities into crypto assets rather than launching a trading product. While the articles reference BNY’s scale in traditional client assets, they converge on the same core points: BNY is partnering with Finstreet and ADI Foundation, and the new effort is targeted at regulated crypto custody for UAE-based clients from Abu Dhabi.
