New York Bank Melon Corp has unveiled a new Blockchain tool on Friday that publishes the net value of the net assets value (NAV) to obtain symbolic funds directly on Blockchain. According to the company’s officials, Blackrock The first customer to implement this technology through the money market fund on the chain, Buidl.
Trump administration policies create a friendly encryption environment
According to a foot report luckThe financial giant’s move comes amid a growing acceptance of Blockchain technology in traditional financing, with the support of favorable organizational changes under US President Donald Trump’s administration.
Bny Mellon It temporarily stopped temporarily from encryption nursery services during the Biden administration after the Securities and Stock Exchange Committee issued instructions known as SAB 121, which established the general budget requirements of companies that maintain encryption assets for customers.
In 2024, the bank received an exemption allowing it to be bitcoin and Ethereum for the products circulating on the stock exchange without being treated as budget discounts. During the Trump era, the former Supreme Education Council, which was not widely popular between banks and coding companies, soon canceled.
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Blackrock partnership “unprecedented event”
Blackrock, which relies on BNY Mellon as an official and guardian Boidel BoxIt will be the first to use the new tool. Robert Michnik, head of Blackrock’s digital assets, called on the BNY ability to bring data visions outside the series to the General Blockchains “” unprecedented event and an important phase of the industry “in a joint statement with Fortune.
The partnership depends on the general data of Larry Fink, CEO of Blackrock, which supports increasing the distinctive code of financial assets to improve costs and efficiency. While technology remains limited to specific test situations and most of them are indigenous customers in Blockchain, this implementation represents a step towards broader dependence.
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The data in the actual time aims to enhance the creditworthiness of the fund
In an interview with Fortune, Caroline BNY, Caroline BNY, explained in an interview with Fortune that the new product will allow more transparency and current information about the distinctive money.
She said, “Since we have experience in Blockchain, other funds accounting in the industry will struggle to do so,” she said. “He sits properly in that sweet spot where we continue to add more and more value to customers.”
The tool publishes NAV information directly to Blockchain instead of relying on third -party accounting services. According to Petler, this investors help see the current NAV values of tools such as Buidl, which can improve credit. Although this type of data sharing is not unique of the type Crypto, BNY’s BNYS BLOCKCHAIN technology enables the company to provide a more complete set of distinctive tools.
BNY Mellon continues to pay Blockchain despite the fluctuation of the market
The latest BNY Mellon offers another step in the Blockchain sector, which started in 2008 at the introduction of Bitcoin. Despite the rise and landing on the market, the bank has shown constant interest in technology, including the previous launch of the Bitcoin Digital Assets and ETHEREM digital nursery.
In March, Bitler witnessed before the Financial Services Committee in the House of Representatives during a hearing on Stablecoins. “Blockchain technology in connecting traditional and digital markets is compatible with the long BNY record of supporting innovation in the global financial system,” she said at the session.
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