BNY Plans Blockchain Transfer Agency for $8.6 Trillion Investment Servicing Business

BNY is launching a blockchain-enabled version of its transfer-agency business that will bring fund ownership records and transaction data on-chain, without replacing its traditional transfer-agent infrastructure.

BNY’s existing transfer-agent business services approximately $8.6 trillion in assets across 7.6 million investor accounts. Baillie Gifford is already using the digital transfer agent for its UK-regulated tokenized fund. Meanwhile, BlackRock and BNY’s Dreyfus business are expected to use the service for their forthcoming funds.

BNY oversaw $62.6 trillion in assets under custody and/or administration as of June 30, 2026.

Source: Financial Times