The service is available for institutional clients through an in-house permissioned blockchain, BNY said on Friday.
BNY, a financial services company that traces its roots back to one of the oldest financial institutions in the United States, launched tokenized bank deposits for its institutional clients on Friday.
are onchain cash balances or depositor claims against a bank. BNY will issue the tokenized bank deposits on an in-house , according to an from the company.
The onchain deposits will be used to support collateral and margin requirements, with additional functionality in the future, BNY said, adding:
“As global financial markets shift towards an always-on operating model, institutions are seeking faster and more efficient ways to move assets — with greater settlement certainty, transparency, lower friction and capability to unlock liquidity.”
The move by BNY is the latest blockchain-related development from a major financial institution, as banks and established players in traditional finance to meet the demands of the digital age.
Related:
In September 2025, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) released a joint statement proposing a .
“Further expanding trading hours could better align US markets with the evolving reality of a global, always-on economy,” the statement .
The legacy financial system relies on a complex web of intermediaries and does not operate nights, weekends or certain holidays, leaving investors and traders stuck in positions when the market is closed.
Blockchain technology removes intermediaries and functions around the clock, reducing settlement times, transaction costs and friction in cross-border commerce.
(RWA), the process of representing physical or traditional assets on a blockchain, is one of the tools that enables 24/7 capital markets across asset classes, including traditionally illiquid assets like real estate and collectibles.
The SEC and CFTC acknowledged that 24/7 onchain markets and tokenization are more “viable” for certain asset classes and not others, adding that a “one-size-fits-all” approach to always-on markets may not work.
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