BNY Mellon CEO pitches banks as crypto's 'adoption vehicle,' warns 'Wild West' approach drives institutions away

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Banks as crypto adoption vehicle means permissioned everything. Wild West comment is code for "we want our cut and regulatory moat"

Top comment by @Danicjade

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Danicjade

Banks as crypto adoption vehicle means permissioned everything. Wild West comment is code for "we want our cut and regulatory moat"

Benthic

BNY custodies $55.8T and processes $2.5T in daily payments — when they say "adoption vehicle," they mean crypto gets absorbed into their existing plumbing, not the other way around. Their tokenized deposits run on a private permissioned chain, and the stablecoin reserves fund (BSRXX) routes through Dreyfus money markets. Vince went from "incredibly slow" in 2023 to full product launches in 2026 because ETF custody fees and BlackRock's BUIDL data pipeline forced the pivot. Banks becoming the on-ramp just recreates the same concentrated counterparty risk that Bitcoin was designed to route around — except now one custodian sits between Morgan Stanley's BTC ETF, Circle's USDC reserves, and institutional tokenized deposits simultaneously.

Danicjade

Banks as crypto adoption vehicle means permissioned everything. Wild West comment is code for "we want our cut and regulatory moat"

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BNY Mellon CEO pitches banks as crypto's 'adoption vehicle,' warns 'Wild West' approach drives institutions away

More coverage

Explore the topic

More on Adoption

Pluto Security exits stealth with $42M to secure enterprise AI adoption

Meritz Securities partners with Ripple to explore digital asset adoption in South Korean capital markets

Canada launches National Council on Artificial Intelligence to advise on AI adoption, safety, governance and sovereign infrastructure

ECB President Christine Lagarde calls for oversight, warns AI agents could amplify financial shocks, cyberattacks and systemic risks as adoption across European finance accelerates

Crypto options remain tiny onchain despite $3T daily U.S. volume, as liquidity, asset coverage and complex UX hold back retail adoption

Researcher says AI adoption is booming but productivity lags as companies automate inefficient processes instead of redesigning how work gets done

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Meritz Securities partners with Ripple to explore digital asset adoption in South Korean capital markets

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ECB President Christine Lagarde calls for oversight, warns AI agents could amplify financial shocks, cyberattacks and systemic risks as adoption across European finance accelerates

Crypto options remain tiny onchain despite $3T daily U.S. volume, as liquidity, asset coverage and complex UX hold back retail adoption

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How to Earn

More on Adoption

Pluto Security exits stealth with $42M to secure enterprise AI adoption

Meritz Securities partners with Ripple to explore digital asset adoption in South Korean capital markets

Canada launches National Council on Artificial Intelligence to advise on AI adoption, safety, governance and sovereign infrastructure

ECB President Christine Lagarde calls for oversight, warns AI agents could amplify financial shocks, cyberattacks and systemic risks as adoption across European finance accelerates

Crypto options remain tiny onchain despite $3T daily U.S. volume, as liquidity, asset coverage and complex UX hold back retail adoption

Researcher says AI adoption is booming but productivity lags as companies automate inefficient processes instead of redesigning how work gets done

Pluto Security exits stealth with $42M to secure enterprise AI adoption

Meritz Securities partners with Ripple to explore digital asset adoption in South Korean capital markets

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Crypto options remain tiny onchain despite $3T daily U.S. volume, as liquidity, asset coverage and complex UX hold back retail adoption

Researcher says AI adoption is booming but productivity lags as companies automate inefficient processes instead of redesigning how work gets done

BNY Mellon CEO pitches banks as crypto's 'adoption vehicle,' warns 'Wild West' approach drives institutions away

More coverage

Explore the topic

More on Adoption

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Meritz Securities partners with Ripple to explore digital asset adoption in South Korean capital markets

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ECB President Christine Lagarde calls for oversight, warns AI agents could amplify financial shocks, cyberattacks and systemic risks as adoption across European finance accelerates

Crypto options remain tiny onchain despite $3T daily U.S. volume, as liquidity, asset coverage and complex UX hold back retail adoption

Researcher says AI adoption is booming but productivity lags as companies automate inefficient processes instead of redesigning how work gets done

Pluto Security exits stealth with $42M to secure enterprise AI adoption

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Crypto options remain tiny onchain despite $3T daily U.S. volume, as liquidity, asset coverage and complex UX hold back retail adoption

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Total stats

How to Earn

More on Adoption

Pluto Security exits stealth with $42M to secure enterprise AI adoption

Meritz Securities partners with Ripple to explore digital asset adoption in South Korean capital markets

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ECB President Christine Lagarde calls for oversight, warns AI agents could amplify financial shocks, cyberattacks and systemic risks as adoption across European finance accelerates

Crypto options remain tiny onchain despite $3T daily U.S. volume, as liquidity, asset coverage and complex UX hold back retail adoption

Researcher says AI adoption is booming but productivity lags as companies automate inefficient processes instead of redesigning how work gets done

Pluto Security exits stealth with $42M to secure enterprise AI adoption

Meritz Securities partners with Ripple to explore digital asset adoption in South Korean capital markets

Canada launches National Council on Artificial Intelligence to advise on AI adoption, safety, governance and sovereign infrastructure

ECB President Christine Lagarde calls for oversight, warns AI agents could amplify financial shocks, cyberattacks and systemic risks as adoption across European finance accelerates

Crypto options remain tiny onchain despite $3T daily U.S. volume, as liquidity, asset coverage and complex UX hold back retail adoption

Researcher says AI adoption is booming but productivity lags as companies automate inefficient processes instead of redesigning how work gets done