BNY Debuts Digital Transfer Agency to Bridge Traditional and On-Chain Funds

BNY has launched a Digital Transfer Agency platform, enabling fund issuers to maintain legal records directly on blockchain networks. The new service marks a departure from digital twin models, allowing the economic value and ownership of assets to exist entirely on-chain for both traditional and digitally native funds.

Today, 19:47· Corp and Tech· 2,036 reads

The platform supports an end-to-end lifecycle across multiple blockchains and jurisdictions, integrating tokenization, distribution, and custody. By moving fund books and records on-chain, BNY aims to provide a unified source of truth for assets, including support for fiat and stablecoin subscriptions and redemptions. Emily Portney, Global Head of Asset Servicing, stated the firm is enabling true on-chain mobility for real-world assets while maintaining the legal representation of fund records.

Early adopters include BNY Investments Dreyfus, Baillie Gifford, and BlackRock. Baillie Gifford has already launched the Baillie Gifford Enhanced Yield Fund (BAGEY), a U.K.-regulated tokenized fund, while BlackRock intends to utilize the platform for its new BSTBL share class. These capabilities link directly into BNY’s existing recordkeeping infrastructure, which currently services approximately $8.6 trillion in assets. The service is rolling out to select clients in the United States and the United Kingdom, with broader expansion planned to support institutional demand for digital investment products.

BNY Debuts Digital Transfer Agency to Bridge Traditional and On-Chain Funds

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