BNY strengthens its shift towards Bitcoin and Ethereum with an institutional custody project in Abu Dhabi. The signal is clear. Crypto no longer advances only through the markets. It also advances through banking pipes.
In brief
- BNY is preparing an institutional custody offering around Bitcoin and Ethereum.
- Abu Dhabi wants to strengthen its role as a regulated crypto hub.
Bitcoin enters a little more into the coffers of finance
Bitcoin is gaining new institutional support with BNY, the world's largest custodian bank, preparing a digital asset custody offering in the United Arab Emirates. This progress confirms a trend already visible on the market: large financial institutions are accelerating around Bitcoin, no longer as a simple speculative asset, but as a financial infrastructure to be integrated.
The project will be carried out with Finstreet Limited and ADI Foundation, as part of the Abu Dhabi Global Market. Bitcoin and Ethereum will be the first assets affected. Stablecoins and tokenized real assets could follow next.
It is therefore not another marketing operation. It’s a piece of financial plumbing. Not very spectacular in appearance, but essential. Without strong custody, large investors remain cautious. With a bank of this size, the psychological threshold changes.
Custody remains one of the most sensitive topics in crypto. Buying Bitcoin is simple for an individual. Holding it for a fund, private bank or asset manager is another story. Internal controls are needed. There needs to be clear compliance. We also need security procedures capable of resisting human errors, attacks and the demands of regulators. This is precisely where BNY wants to position itself.
This announcement weighs all the more as BNY oversees $59.4 trillion in assets in custody or administration, according to its figures as of March 31, 2026. The bank also manages $2.1 trillion in assets under management.
Abu Dhabi wants to capture the next crypto wave
The choice of Abu Dhabi is not insignificant. The city wants to establish itself as a global hub for regulated digital assets. It does not only seek to attract traders. It targets infrastructure, long capital and institutions.
BNY is part of this movement with a cautious approach. The project remains subject to final agreements and necessary regulatory approvals. This detail matters. He reminds us that traditional finance is making progress in crypto, but without skipping steps.
Bitcoin is gaining new institutional support with BNY, the world's largest custodian bank, preparing a digital asset custody offering in the United Arab Emirates. This offensive comes in a context where Citigroup also wants to compete with Coinbase on crypto custody from 2026, a sign that the big banks are no longer looking at the sector from afar.
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