- The real-time blockchain nav-tool of the BNY MELLON increases the fund transparency-Blackrocks Buidl is already live with it.
- Bitcoin gains institutional tensile force because the BNY integrates crypto custody and blockchain accounting into existing systems.
The Bny Mellon (Bank of New York Mellon Corporation) is a global financial service provider that was created in 2007 from the Bank of New York and the Mellon Financial Corporation. Now you have taken a significant step by combining traditional financing with blockchain technology.
The institute launched a state-of-the-art blockchain-based accounting tool to revolutionize the fund management by providing net inventory data (NAV) directly on a blockchain in real time.
Blackrock, the world’s largest asset manager, is the first to use this innovation and integrate it into his tokenized fund Buidl. In an interview with Fortune Caroline Butler, Head of Digital Assets at BNY:
“Since we have specialist knowledge in the area of blockchain, it would be difficult for other fund accountants in the industry to do this. This is exactly the point where we create more and more value for our customers.”
NAV in real time on the blockchain
Traditionally, the calculation and publication of the net inventory value of a fund is a delayed process that limits the transparency and agility of the investors. Bny Mellon’s tool solves this problem by immediately transferring NAV updates to the blockchain and ensuring that investors have an immediate access to precise fund ratings.
BitcoinWorld HAVE HERVOR:
The tool provides current data on the net inventory value (NAV) of a fund directly on a blockchain. This is great progress in the development of tokenized funds that are managed by companies like Blackrock. ”
BlackRocks Integration mit BUIDL
Blackrock’s integration of this tool in Buidl, a tokenized US treasure fund, reflects its growing engagement for blockchain innovations. It also offers investors transparent real-time access to important financial indicators.
Bny Mellon’s advance in blockchain technology did not come out without regulatory requirements. In 2024, the company secured an exception that allows it to keep digital assets kept without classifying them as balance sheet liabilities.
As CNF reported, the BNY Mellon became the first US bank to offer Bitcoin custody, which was a historic turning point for cryptocurrencies in traditional finance. The introduction of your blockchain accounting system underlines the increasing institutional presence of Bitcoin and the infrastructure that is growing around it.
When writing this article, Bitcoin is traded at $ 82,650, after a decline of 1.21 % in the last 24 hours and 4.03 % last week.
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