Bank of New York Mellon has introduced a tokenized deposit service, enabling customers to transfer funds through blockchain channels. This move marks the bank's deeper engagement in the digital asset sector. The tokenized deposits represent on-chain versions of customer deposits held at BNY Mellon, facilitating 24/7 operations and supporting collateralized and margin trading, as well as faster payments. Key participants in this service include Intercontinental Exchange, Citadel Securities, DRW Holdings, Ripple Prime, Baillie Gifford, and Circle. This initiative underscores BNY Mellon's commitment to expanding its digital asset capabilities and providing innovative financial solutions to its clients.