BNY Moves $8.6 Trillion Fund Business Onchain | CoinDesk Daily
CoinDesk Podcast Network
July 29, 2026
BNY's $8.6T move onchain. BNY is bringing its transfer agency business — which services about $8.6 trillion across 7.6 million accounts — onto the blockchain, with Baillie Gifford, BlackRock and Dreyfus lined up to use it. It's one of Wall Street's biggest bets yet on tokenized funds.
Speakers Jennifer Sanasie
TopicsBusiness NewsNewsDaily News
Jennifer Sanasie (0:00)
BNY puts $8.6 trillion to fund business onto the blockchain, and Russia charges Telegram's founder with terrorism. This is CoinDesk Daily.
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BNY is moving one of its core record-keeping businesses onto the blockchain. The 242-year-old custody giant is bringing its transfer agency on chain, a business that services about $8.6 trillion across 7.6 million accounts. Baillie Gifford is the first client on board using it for what's billed as the first fully native UK-regulated tokenized fund. BlackRock and BNY's Dreyfus arm are expected to follow.
Russia's charged Telegram founder Pavel Dorov with aiding terrorism and placed him on an international wanted list. The FSB accuses Telegram of failing to remove channels. It says Ukrainian intelligence and extremist groups are used to coordinate attacks inside Russia. The charge could carry a life sentence. Lower rates protected Bitcoin, Ledn's lowest loan rates ever. Check yours at ledn.io. And Citadel is telling markets to brace for a surprise. The hedge fund expects Fed Chair Kevin Warsh to hike rates by 25 basis points at today's meeting, a move almost no one else on the street sees coming. The CME FedWatch tool puts the odds of a hike at about 34%, up from 26% just a week ago. Get more updates on coindesk.com. RealFi, a smarter stable coin backed by real world assets. Join the testnet now at realfi.co.
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