Bank of New York (BNY) Mellon, the world’s largest custody bank that oversees $46.7 trillion in assets, has partnered with Blockchain Association Signapore (BAS).
The main purpose of the partnership between BNY Mellon and BAS, advancing blockchain technology, driving corporate digital assets and decentralized finance (DeFi) adoption was stated.
According to a press release shared on April 27, BNY Mellon and BAS are in Singapore. Incentives for the development of the digital economy will be found.
Johnny Wijaya, Head of innovation at BNY Mellon Asia-Pacific In his statement on the subject:
We are excited to partner with Blockchain Association Singapore as we can contribute to the development of Singapore’s digital finance ecosystem.
said.
With this agreement, the use of blockchain technology and adoption of decentralized finance is expected to increase.
Circle, the issuer of USD Coin (USDC), the second largest stablecoin by market capitalization, Bank of New York Mellon to maintain USDC reserves had agreed with. Also earlier this month BNY Mellonblockchain data platform to help track and analyze cryptocurrency products chainalysis announced a partnership with
Circle Signs With BNY Mellon to Maintain USD Coin (USDC) Reserves
Related article: Circle Signs With BNY Mellon to Maintain USD Coin (USDC) Reserves