Overview
- BNY, which announced the plan Thursday, will set up regulated digital asset custody in Abu Dhabi with local partners Finstreet and ADI Foundation.
- Operations will be based in Abu Dhabi Global Market and will start with custody for bitcoin and ether.
- The roadmap adds stablecoins and tokenized assets next, meaning on‑chain versions of bonds, funds, or stocks.
- Finstreet and ADI Foundation will help build the platform in ADGM, and BNY said the work still needs final agreements and regulatory approvals.
- With about $59 trillion under custody, BNY’s entry strengthens the UAE’s push into regulated digital finance, which includes ADGM’s acceptance of USDT and a proposed dirham‑backed stablecoin.