BNY

trillionSdollarstech

As well as CC. Coinbase and Binance spinned up validators validators on Canton yesterday, after the adoption of the network by the London stock exchange, following Nasdaq, DTCC, German stock exchange, JP Morgan's and BNY's tokenized deposits, ...

RoutinePrice446

>This capability operates on BNY’s **private, permissioned blockchain** and is governed by the company’s established risk, **compliance**, and **control** frameworks. Yuck, I hate everything about this.

Financial_Design_801

BNY the biggest custodian bank is going “on-chain” & they built and are using their own private permissioned blockchain, not someone’s 💩coin [“This capability operates on BNY’s private, permissioned blockchain and is governed by the company’s established risk, compliance, and control frameworks.”](https://www.bny.com/corporate/global/en/about-us/newsroom/company-news/bny-extends-digital-cash-capabilities-for-institutional-clients.html?cid=CH02_PL924_CT06_CA02_P999_C912_828100__X04_A001_)

coinfeeds-bot

tldr; BNY Mellon has launched tokenized bank deposits for institutional clients, creating on-chain representations of existing deposit balances on its private blockchain. These tokenized deposits enable faster, more efficient transactions, real-time settlement, and improved liquidity while remaining regulated and interest-bearing. Early adopters include major institutions like ICE and Citadel Securities. This move highlights the integration of blockchain technology into traditional finance to modernize systems and support 24/7 global operations. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

cedarrapidsiaus

Yeah i mean why would anyone be obligated here? I wasn't referring to obligation so I'm not sure why you are bringing that up. I was mentioning how using Ripple/XRP would benefit others, not that others have to use it. Tokenization is coming, a new enhanced efficient cross border payments system is coming and inevitable as long as the worlds tech hasn't disintegrated. If you think JP Morgan is going to be the King of the future of cross border payments and tokenization and offer better solutions and products, then invest in JP Morgan i hope. Good look to JP Morgan finding the liquidity and trust to move the worlds money and catching up to other blockchains years ahead of them. And no matter what a JP Morgan blockchain will always be Centralized because its OWNED BY JP MORGEN. This can work for people who chose to bank with JP Morgen, but that's where its use case ends. People that don't want to use or trust JP Morgan or any other bank or companies' centralized blockchain product are much more likely to use a product that is free from banking, government, and business influence (DECENTRALIZED). Also, JP Morgan can create its own blockchain (any bank or business can) and still use XRP, SOL, XLM, ETH, HBAR, and other cryptos' software. Its called interoperability. Companies with and should build their own blockchains built to there specific needs. Just as they should also turn to others that help them save time & money. I'm betting on both happening. Banks building there own blockchains actually makes it easier for them to integrate with crypto like XRP and XLM through stable coins and interoperability lol. Could XRP go to zero? Of course. My view is that it will be worth a lot more than it is today. If you think it will have no role in the future that's cool. We'll see what happens. You see that article you just posted of BNY? Did you know BNY and Ripple are collaborating? Lol https://www.bny.com/corporate/global/en/about-us/newsroom/press-release/ripple-selects-bny-to-custody-ripple-usd-reserves.html#:\~:text=Ripple%20is%20the%20leading%20provider,%2C%20exchanges%2C%20and%20moves%20value. https://thedigitalbanker.com/bny-mellon-to-hold-reserves-for-ripples-new-stablecoin/#:\~:text=These%20efforts%2C%20if%20successful%2C%20would,regulated%20tools%20for%20value%20exchange. "Bank of New York (BNY) Mellon and Ripple have a strategic, expanding collaboration centered on the integration of digital assets into traditional finance.  Key aspects of their relationship include: * **RLUSD Custody**: BNY Mellon serves as the primary reserve custodian for Ripple's enterprise-grade stablecoin, Ripple USD (RLUSD). This partnership lends credibility and regulatory alignment to RLUSD by having its cash reserves held by one of the world's largest and most trusted global custodians. * **Tokenized Deposits**: Ripple Prime, Ripple's institutional arm, is an early adopter and participant in BNY Mellon's new **tokenized deposit service**. Launched in January 2026, this service allows institutional clients to convert cash into digital tokens on a private blockchain, enabling 24/7, instant settlement for transactions like collateral and margin workflows, which is not possible with traditional banking systems that have cutoff times. "

JustStopppingBye

Cool. Simply having a product doesn’t obligate anyone to use it. The current trend is that banks are either building their own blockchains or collaborating with other banks to develop bespoke, purpose built networks tailored to their specific needs. [https://www.jpmorgan.com/kinexys/index](https://www.jpmorgan.com/kinexys/index) \- own chain [https://www.bny.com/corporate/global/en/about-us/newsroom/company-news/bny-extends-digital-cash-capabilities-for-institutional-clients.html](https://www.bny.com/corporate/global/en/about-us/newsroom/company-news/bny-extends-digital-cash-capabilities-for-institutional-clients.html) *BNY’s private, permissioned blockchain* \- Most likely some implementation of Canton

JustStopppingBye

Even BNY (ripple customer) doesn’t want to use the XRPL. LMAO!! SYKE!!

JustStopppingBye

https://www.bny.com/corporate/global/en/about-us/newsroom/company-news/bny-extends-digital-cash-capabilities-for-institutional-clients.html *This capability operates on **BNY’s private, permissioned blockchain and is governed by the company’s established risk, compliance, and control frameworks.**Client balances continue to be recorded on BNY’s traditional systems to maintain regulatory and reporting integrity.* LMAO.

trillionSdollarstech

I believe that Canton is where there is money to make. It is clearly loved by the finance industry, used by more and more entities (B of A, DTCC, Nasdaq, JP Morgan, Goldman Sachs, BNY Mellon...) but it is so new to the plebs (us) that the price is still minuscule. I believe this is a huge opportunity. Canton burned a record of $1.04M in fees yesterday. This is considerably more than every traditional blockchain, including the leaders Solana and Ethereum (around $600k each) : https://canton.thetie.io The halving of Canton on January 12 will amplify the effect of this high usage, reducing considerably the daily supply of CC: https://www.reddit.com/r/Canton_Network/s/YrNXN7mNBk Canton ($6B market cap) does for real everything Ripple ($120B) always tried to pretend and never managed to concretize.

trillionSdollarstech

I believe that Canton is where there is money to make. It is clearly loved by the finance industry, used by more and more entities (B of A, DTCC, Nasdaq, JP Morgan, Goldman Sachs, BNY Mellon...) but it is so new to the plebs (us) that the price is still minuscule. I believe this is a huge opportunity. Canton burned a record of $1.04M in fees yesterday. This is considerably more than every traditional blockchain, including the leaders Solana and Ethereum (around $600k each) : https://canton.thetie.io The halving of Canton on January 12 will amplify the effect of this high usage, reducing considerably the daily supply of CC: https://www.reddit.com/r/Canton_Network/s/YrNXN7mNBk Canton ($6B market cap) does for real everything Ripple ($120B) always tried to pretend and never managed to concretize.

JustStopppingBye

>and how do these walled gardens trade with each other I wonder... You dont have to wonder, Ive explained this to you multiple times already but you dont seem to get it. BNY for example, uses a private implementation of hyperledger Besu. Therefore banks like BNY **want** walled gardens. They want central control, permissioning, and restricted data flow. This isnt a flaw, even though constantly try and claim it is. But then yes how do all blockchain speak to eachother? Via standardized, verified messaging layers like [Chainlink CCIP.](https://chain.link/hyperledger-besu-interoperability) Literally every major FMI, Swift DTCC, Euroclear, clear stream are all using CCIP. Even Canton and hyperledger Besu, which already have hundreds of banks actively using it, have all integrated CCIP. >"man at pepsi hates coke" lol who gains the most if swift succeeds and ripple fails? Right. If Ripple is “helping banks deal with legacy systems” ie getting certified, integrating their product and working with banks, then they’re a participant, not an outsider. So if they’re part of the system, how are they competing with Swift? They will have to use the Swift network lol Swift has decades of global adoption, regulatory integration and network effects that cannot be uprooted. You see this argument a lot from the XRP cult, kinda like a hail mary pass, “but what if Ripple just suddenly takes over the entire global financial system bro?!? Then what?!" Typical bullshit from this community. You only hear arguments like this from people who’ve never dealt with global banking at Swifts scale.

JustStopppingBye

But they’re clearly not doing that. No major bank is going to route settlement over to a ledger that’s controlled, influenced or economically dependent on another bank. It’s like you guys don’t even use your brain. Not even ripples “partner” BNY, are using XRPL. They have their own private chain.

trillionSdollarstech

2 days after JP Morgan, BNY Mellon launches tokenized bank accounts on Canton too: https://x.com/i/status/2009676516653748725

biba8163

> MUH RWA ~2 years ago ETH Bagholders were celebrating **Blackrock tokenization** of Money Market Funds for Institutions saying, "Imagine the transactions, this will a rocket for ETH." - ETH price has dropped ~15% since then - ETH fee revenue has dropped -83% since then - *There have been a total of ~10,000 transactions with a little over ~$1K in fees over a ~2 year period.* The bagholder who responded with this comment has deleted it and will probably never touch ETH again. > And it’s right on ETH. **Can you imagine the number of transactions about to go down?** https://np.reddit.com/r/CryptoCurrency/comments/1bkm1u1/blackrock_unveils_crypto_fund_first_with_5/kvzup2u/ > Hocus Pocus, CCIP, CCID, VRF, CRE, SWIFT, Magic Oracles will serve you Truths from Golden Data Containers The ChainLink Town Criers didn't fail to shill ChainLink in response to the above comment: - LINK is down -33% since then > BNY Mellon are providing the custody. They use ChainLink CCIP on the backend. > No point in shilling chainlink to these plebs, they don’t understand how this works

JustStopppingBye

>Everyone just seems to go to anyone T*he Canton Network includes a wide range of major global banks and financial institutions as participants, investors or foundation members:* *Banks Confirmed as Founders, Member, or Major Participants* * ***Goldman Sachs*** *— founding participant and active member of the network/foundation.* [*Canton Network+1*](https://www.canton.network/canton-network-press-releases/canton-network-press-release?utm_source=chatgpt.com) * ***BNP Paribas*** *— major founding partner, investor in Digital Asset’s funding round, and member of the Canton Foundation.* [*DAIC Capital+1*](https://daic.capital/blog/wall-street-to-web3-canton-ecosystem-institutional-market-foundation?utm_source=chatgpt.com) * ***HSBC*** *— joined the Canton Foundation as a key banking participant.* [*Canton Foundation*](https://canton.foundation/bnp-paribas-and-hsbc-join-the-canton-foundation/?utm_source=chatgpt.com) * ***BNY Mellon*** *— involved in pilots and production use cases on the Canton Network.* [*DAIC Capital*](https://daic.capital/blog/wall-street-to-web3-canton-ecosystem-institutional-market-foundation?utm_source=chatgpt.com) * ***J.P. Morgan*** *— participates via ecosystem projects like Versana.* [*DAIC Capital*](https://daic.capital/blog/wall-street-to-web3-canton-ecosystem-institutional-market-foundation?utm_source=chatgpt.com) * ***Credit Suisse / UBS*** *— involved through the Versana syndicated loan platform initiative.* [*DAIC Capital*](https://daic.capital/blog/wall-street-to-web3-canton-ecosystem-institutional-market-foundation?utm_source=chatgpt.com) * ***Deutsche Bank*** *— joined as an investor in the Versana platform.* [*DAIC Capital*](https://daic.capital/blog/wall-street-to-web3-canton-ecosystem-institutional-market-foundation?utm_source=chatgpt.com) * ***Wells Fargo*** *— also invested in the Versana syndicated loan initiative.* [*DAIC Capital*](https://daic.capital/blog/wall-street-to-web3-canton-ecosystem-institutional-market-foundation?utm_source=chatgpt.com) * ***Standard Chartered*** *— participated in Canton Network pilots.* [*Business Wire*](https://www.businesswire.com/news/home/20240312979165/en/The-Canton-Network-Completes-the-Most-Comprehensive-Blockchain-Pilot-to-Date-for-Tokenized-Real-World-Assets?utm_source=chatgpt.com)

cryptolipto

You shared a lot of links. I want to make sure that you’re aware that chainlink is basically working with every tradfi institution you mentioned above Here’s the important point. They’re all integrating chainlink CRE at their fundamental core, and the settlement can be on any blockchain, both public and private. Yes Ethereum and its L2s are widely used, but only chainlink is used every time. the CRE is a suite of products that enable privacy, compliance, cross chain, security checks, and the ability to launch on any chain, all from one easy to use platform. So it’s bigger and more useful than the graph or rocket pool. It’s a new runtime environment that banks are building on today project guardian https://www.swift.com/news-events/press-releases/swift-ubs-asset-management-and-chainlink-successfully-complete-innovative-pilot-bridge-tokenized-assets-existing-payment-systems Memento is live on chainlink CCIP https://www.chainlinkecosystem.com/ecosystem/memento BNY https://www.bny.com/corporate/global/en/about-us/newsroom/press-release/bny-expands-digital-asset-platform-with-launch-of-innovative-on-chain-offering.html JP Morgan https://www.jpmorgan.com/payments/newsroom/kinexys-chainlink-ondo-tokenized-asset-test swift https://www.swift.com/news-events/press-releases/swift-ubs-asset-management-and-chainlink-successfully-complete-innovative-pilot-bridge-tokenized-assets-existing-payment-systems The DTCC https://www.dtcc.com/dtcc-connection/articles/2023/september/21/bringing-capital-markets-onchain-with-dtcc-and-chainlink Citi https://decrypt.co/154434/chainlink-swift-complete-tokenization-tests-with-citi-bank-bny-mellon-others?amp=1 The list goes on and on but you get the idea. Here’s the full list so far : https://blog.chain.link/chainlinks-work-with-major-banking-and-capital-markets-institutions/

MinimalGravitas

> I think privacy and compliance is going to be a huge factor in the choice Why do you think this? What kinds of privacy and/or compliance do you believe would be possible on a private L1 vs an L2? One of the biggest accountancy institutions in the world (EY) maintain the OS resources for Nightfall, a ZK based protocol designed and built specifically for financial institutions who want a 'plug-and-play' solution for privacy on rollups they deploy to Ethereum. https://www.ey.com/en_gl/newsroom/2025/04/ey-upgrades-nightfall-a-zero-knowledge-roll-up-enabling-private-transactions-on-the-ethereum-blockchain As far as regulatory compliance, are you aware of Project Guardian, the overarching group of which [Deutsche Bank's L2 (Memento)](https://gbaglobal.org/blog/2025/01/15/deutsche-bank-enters-l2-with-zksync-is-your-institution-ready-yet/) and a range of other Ethereum projects by [BNY](https://www.bny.com/corporate/global/en/about-us/newsroom/press-release/bny-expands-digital-asset-platform-with-launch-of-innovative-on-chain-offering.html), [Citi](https://www.lfdecentralizedtrust.org/case-studies/citi-transforms-transaction-banking-services-with-besu), [DBS](https://www.dbs.com/newsroom/DBS_expands_blockchain_capabilities_by_tokenising_and_distributing_structured_notes), [Fidelity](https://www.coindesk.com/business/2025/03/22/fidelity-files-for-onchain-u-s-treasury-fund-joining-the-asset-tokenization-race), [J.P. Morgan](https://archive.fo/IR99q) etc? As well as these financial services companies, there are also plenty of governmental regulators involved such as the Monetary Authority of Singapore (who head the project), the UK's Financial Conduct Authority, Japan's Financial Services Agency, the International Monetary Fund and the World Bank... https://www.mas.gov.sg/-/media/mas-media-library/news/media-releases/2024/annex-a--list-of-participants-in-project-guardian-industry-group.pdf So really I'm not sure there is a reality based argument that regulatory compliance or privacy requirements favours private L1s over Ethereum based L2s. Are there any other reasons you can think of that an entity could have for building and running their own L1 chain rather than tapping into the Ethereum ecosystem?

Hidden5G

Tether isn’t “reliable, audited collateralization.” That’s the core mistake here. A pegcoin only works if the issuer is transparent, and Tether still refuses to provide a full, independent audit after more than a decade in business. That’s why Bluechip rates it D. It’s why regulators in parts of Europe have restricted it. And it’s why so many payment specialists, risk officers, and treasury people don’t treat USDT as a trustworthy bridge between fiat and blockchain. You’re right that the concept of a fiat backed token isn’t meant to be decentralized. The goal is to move dollars on chain. The problem is how that’s done. A company that controls billions in customer deposits but avoids audits and keeps its reserves offshore isn’t “bringing value onto the blockchain in a reliable way.” It’s introducing counterparty risk that’s bigger than most banks. If you want an example of how this should be done, look at RLUSD. It has an A rating from Bluechip because the reserves are held by BNY Mellon, with regulated custody, full transparency, and real oversight. USDC lands in the middle with B+, because they publish monthly attestations and work with U.S. regulators. So yes…stablecoins act bank like on chain. But Tether skips the safety rails that banks are required to have. When a company won’t repeatedly submit to a full audit, has been fined for misrepresenting its reserves, and holds assets in opaque offshore entities, you don’t get reliability…you get a risk that everyone pretends isn’t there until something breaks. That’s the part your explanation leaves out.

Hidden5G

Tether works the way you described..people hand over dollars, Tether hands back a token, and Tether controls the reserves. You’re right that this feels a lot like a bank, and that’s exactly why so many people have concerns about it. The issue isn’t that the model is impossible, it’s that Tether has a long history of avoiding transparency. Well known history of full audit avoidance. Bluechip…the independent ratings group for stablecoins, gives Tether a D rating because they still don’t provide a full audit, only quarterly “attestations,” and their own terms allow them to delay redemptions if their reserves aren’t easily available. That’s why parts of Europe have restricted or discouraged the use of USDT..regulators don’t like the opacity, and some exchanges there are phasing it out. They’re trying to fool everyone with their “new” stablecoin. On the other hand…for example…RLUSD is built in a completely different way. It has an A rating (the highest) from Bluechip because its reserves are held by BNY Mellon, one of the oldest and most trusted custodians in the world. It’s issued under a New York trust license, it’s fully regulated, and it’s designed for real payments and institutional settlement rather than a giant offshore casino. USDC sits in the middle with a B+ rating more transparent than Tether, not as strong as RLUSD. your instincts are right. Tether is centralized, it acts like a bank without the regulation of one, and that’s why its rating is so low. The point of stablecoins isn’t decentralization..it’s convenience and liquidity, but some are built responsibly and some cut corners. Tether cuts corners. RLUSD does not.

biba8163

> $57 TRILLION BNY MELLON Bigger than U.S GDP. People posting tweets by some of the dumbest people on the planet as a source. I mean take a look at this clown > I’ve now spent hours in a room with @RobertKennedyJr, listening to him speak in both public and private conversations. > I can tell you with 100% certainty that the media portrayal of him is wildly inaccurate. > It’s borderline criminal. > He’s by far the best candidate. https://x.com/scottmelker/status/1817235169251664232 > I think $ETH will hit 5 figures this year. https://x.com/scottmelker/status/1361382126151749633

trillionSdollarstech

> SECURITIZE PARTNERS WITH $57 TRILLION BNY MELLON TO LAUNCH TOKENIZED CREDIT FUND ON ETHEREUM https://x.com/scottmelker/status/1983851388896411738

ThriceHawk

Really? That's wild... I haven't seen that other than from the XRP bros. Here are my reasons... The US Department of Commerce selected them to provide macroeconomic data on-chain. As well as having them there for the GENIUS Act signing and the Federal Reserve conference I just mentioned. They are partnered with almost all of the largest financial institutions and cover 80%+ of defi. Partners/integrations include: SWIFT, JP Morgan, Fidelity, Citi, US Bank, Coinbase, Mastercard, the DTCC, BNP Paribas, UBS, ANZ, Euroclear, Franklin Templeton, SBI, BNY Melon, S&P Global, Canton Network, Lloyds, Microsoft, etc. etc. <<< Who else comes close to this?

JustStopppingBye

>announcing partnerships with major banks This is a lie. The last "partnership" was paying BNY Mellon for its services as the primary custodian for their stablecoin. What bank partnership are you referring to?

coinfeeds-bot

tldr; SWIFT has chosen Linea, an Ethereum Layer-2 blockchain by Consensys, for a pilot program testing blockchain messaging and stablecoin payments. The initiative involves major banks like BNP Paribas and BNY, aiming to integrate payment instructions and settlement on-chain to reduce costs and enhance transparency. This move intensifies competition with Ripple, which also offers blockchain-based payment solutions. The pilot could reshape global payment systems, potentially favoring bank-controlled infrastructures over private networks. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Société Générale-Forge (SG-Forge) has launched USDCV, a dollar-backed stablecoin, on the Bullish Europe platform. USDCV is compliant with MiCA regulations and supervised by BaFin, marking Europe's effort to compete with U.S. stablecoin dominance. Backed by reserves at BNY Mellon, USDCV targets financial institutions and individuals for applications like fund transfers and trading. This launch complements SG-Forge's euro stablecoin, EURCV, and highlights Europe's push for a regulated crypto infrastructure against American giants like Tether and Circle. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

ThriceHawk

BTC, ETH, and LINK. I'd mainly dollar cost average in to be safe. BTC - Obvious, clear king of crypto, not much explanation needed here. ETH - Powering the largest ecosystem of dApps, Smart Contracts, DeFi, etc... The foundation for web3 applications. Largest and most active developer community in crypto. Ethereum accounts for 60%+ of DeFi's TVL. Huge player in tradfi tokenized assets moving forward. Primary blockchain for stablecoins. LINK - Leading oracle provider, secures 80%+ of DeFi, and the bridge with traditional finance/real world data. Already partnered with JP Morgan, SWIFT, Citi, Fidelity, the DTCC, Coinbase, AAVE, Mastercard, BNP Paribas, BNY Melon, Euroclear, etc. Even the US Department of Commerce. Provides cross chain interoperability allowing tokenized assets and data to move seamlessly across 50+ blockchains, including Ethereum, Polygon, Solana, etc. Key enabler of tokenized assets, provides proof of reserves for stablecoins/securities, and data feeds for equities, ETF's, etc.

jdizzle512

Chainlink went into production with swift BNP BNY citi Clearstream euroclear dtcc 2 fucking years ago and yall are talking about rumors of xrp being used

jdizzle512

Can you not read? This is from SWIFT.COM. Swift dot fucking com bro 2023 bro in the year of our lord two thousand and twenty three Swift: “Swift collaborated with several major financial institutions on the experiments, including Australia and New Zealand Banking Group Limited (ANZ), BNP Paribas, BNY Mellon, Citi, Clearstream, Euroclear, Lloyds Banking Group, SIX Digital Exchange (SDX) and The Depository Trust & Clearing Corporation. Chainlink was used as an enterprise abstraction layer to securely connect the Swift network to the Ethereum Sepolia network, while Chainlink’s Cross-Chain Interoperability Protocol (CCIP) enabled complete interoperability between the source and destination blockchains.” https://www.swift.com/news-events/press-releases/swift-unlocks-potential-tokenisation-successful-blockchain-experiment

ThriceHawk

What major banks? The major banks aren't using Ripple, that's why people hate on it. It claims to be the bankers coin but isn't. Bank of America was the big one XRP fans always touted. Now BofA hasn't mentioned them in ~5 years, and are creating their own stablecoin. SWIFT is using Chainlink. JP Morgan, Citi, Fidelity, US Bank, BNY Melon, BNP Paribas, UBS, ANZ, on and on are using Chainlink. The NDA's have nothing to do with institutions using XRP. The 1,700 contracts were organized into 4 different categories in the report,none of which were institutions using XRP.

jdizzle512

Since @Ripple was a thing, that was always XRP’s narrative that XRP would be the ones working with the banks. Swift comes out and says, we’re using @chainlink for this, JP Morgan comes out and says, we’re using Chainlink for this. XRP’s core product just has not seen meaningful traction with institutions. Chainlink looks just the clear winner in that regard. The global financial system is adopting $LINK Swift DTCC Euroclear Mastercard Clearstream Central Bank of Brazil J.P. Morgan Intercontinental Exchange (ICE) UBS Westpac BNY Mellon Citi BNP Paribas Franklin Templeton Wellington Management Fidelity International U.S. Bank Lloyds Banking Group ANZ Bank SBI Digital Markets Emirates NBD Vontobel Bancolombia

ThriceHawk

No other project outside of ETH has the adoption and partnerships of Chainlink. They are becoming the standard for the TradFi transition into blockchain... Partnered with SWIFT, JP Morgan, Fidelity, Mastercard, Citi, US Bank, Euroclear, the DTCC, Coimbase, BNY Melon, BNP Paribas, UBS, on and on... That's on top of already securing ~80% of DeFi and being critical for the already on-chain ecosystems. And they are working alongside the US government as they shape legislation. Chainlink's co-founder was present and shaking hands with the President as the GENIUS Act was signed. As these financial institutions build their L1 blockchains/stablecoins/tokenized assets, Chainlink is the critical infrastructure being adopted and we are seeing that with public, verified partnerships.

uncapchad

yeah advice is not necessarily an order. Crypto, not Bitcoin. Some banks are exploring custody of Bitcoin-backed ETFs and Stablecoins. None have announced BTC yet. CitiGroup & BNY for e.g. Meanwhile banking sector getting v worried about Genius Act with some wild numbers being given. Not sure how they calculated it but the number being touted is *"a potential* ***$6.6 trillion*** *outflow of deposits from traditional banking could occur if stablecoin issuers are allowed to offer yields through affiliated companies"*

ThriceHawk

You can put a decent chunk in now, but I'd mainly dollar cost average in to be safe. 33% BTC, 33% ETH, 33% LINK. BTC - Obvious, clear king of crypto, not much explanation needed here. ETH - Powering the largest ecosystem of dApps, Smart Contracts, DeFi, etc... The foundation for web3 applications. Largest and most active developer community in crypto. Ethereum accounts for 60%+ of DeFi's TVL. Huge player in tradfi tokenized assets moving forward. Primary blockchain for stablecoins. LINK - Leading oracle provider, secures 80%+ of DeFi, and the bridge with traditional finance/real world data. Already partnered with JP Morgan, SWIFT, Citi, Fidelity, the DTCC, Coinbase, AAVE, Mastercard, BNP Paribas, BNY Melon, Euroclear, etc. Provides cross chain interoperability allowing tokenized assets and data to move seamlessly across 50+ blockchains, including Ethereum, Polygon, Solana, etc. Key enabler of tokenized assets, provides proof of reserves for stablecoins/securities, and data feeds for equities, ETF's, etc.

ThriceHawk

It absolutely is positioned to moon, especially now with the Chainlink Reserve going live. Chainlink is sooooo incredibly undervalued. SWIFT about to go live in November... I think there is just a genuine lack of knowledge in crypto and Chainlink hasn't wasted time pouring a bunch of money into social media influencer hype. They are partnered with JP Morgan, Fidelity, SWIFT, the DTCC, Mastercard, Coinbase, 80%+ of DeFi, Citi, BNP Paribas, UBS, BNY Melon... but are 12th in markercap?! That's a huge opportunity for people right in front of them.

cryptolipto

Not at all. Just actually informed on what institutions are actively adopting. Chainlink CCIP is what is being used by Swift, Euroclear, the DTCC, JP Morgan, Fidelity, BNY melon, the Hong Kong central bank, the Brazilian central bank, etc etc etc

ThriceHawk

XRP is absolutely not the bankers coin. That's LINK. LINK is working with JP Morgan, SWIFT (global messaging network for 11,500 banks and financial institutions), Fidelity, BNP Paribas, the DTCC, Euroclear, Citi, UBS, ANZ, Franklin Templeton, Mastercard, BNY Melon, on and on. XRP doesn't come close to that.

Busy_Satisfaction510

I’ve made over $1.2M in grant funding including the gov’t and private institutions for my clean energy company. To date I’ve raised $3.1 million total. I’ve been funded by world class orgs and individuals including BNY Mellon, Pharrell Williams, and Cisco For the Founder: Knowledge on winning over $350K in grants, some game winning application drafts, and some apps curated for you, spend 20 minutes here: https://stan.store/getwealthy/p/win-grants-like-clockwork

Current_Attention_92

American Express Banco Rendimento Bank of America (testing Ripple solutions for payment systems) Santander (uses Ripple's xCurrent in its One Pay FX app for faster transactions) SBI Holdings (Japan) and SBI Remit (uses XRP as an intermediary for payments through its MoneyTap service) Standard Chartered (involved with Ripple since 2015) Canadian Imperial Bank of Commerce (CIBC) Kotak Mahindra Bank (India) IndusInd Bank (India) RAKBANK (UAE) SEB (Sweden) Siam Commercial Bank (SCB) (Thailand) Krungsri (Bank of Ayudhya) (Thailand) BNY Mellon (selected to hold reserves for Ripple's RLUSD stablecoin) Itaú Unibanco (deploys RippleNet) Bitso (significant ODL partner in Latin America) Cuallix (early adopter of ODL) MoneyTap (Japan) BeeTech (Brazil) InstaReM (Singapore) ZipRemit (Canada) LianLian Pay (China) IFX Payments (UK) TransferGo (UK) Currencies Direct (UK) Airwallex (Australia) MoonPay Tranglo Bank of Thailand (BOT) Saudi Central Bank (SAMA) Royal Monetary Authority of Bhutan (RMA) AMC Theatres APMEX (precious metals) Auragentum GmbH (precious metals) Jomashop (luxury watches, handbags) Ledger (hardware crypto wallets) Marc Gebauer Lifestyle GmbH (luxury watches) Namecheap (domain registration, hosting) Newegg (computer hardware, gadgets) O'Gara Coach (luxury automobiles) PacSun (clothing) Play-Asia.com (entertainment products) Scan Computers (electronics) Sharps Pixley (bullion broker) Stacks Bowers (rare coins and currency) Hublot (luxury watches) Prepaid Gamer Online Hawk Host Inc. Ace Jewelers CryptoTurismo Gamesplanet HOSTKEY B.V. HJT Crypto: A platform that allows users to use XRP to remotely launch Bitcoin, seeing a surge in users. Dubai Land Department + Ctrl Alt: Partnered with Ripple to tokenize real estate on the XRP Ledger. Hidden Road (pending acquisition by Ripple): A global prime brokerage firm expected to bring post-trade clearing, FX services, and liquidity directly onto the XRP Ledger. World Bank: Evaluates Ripple's potential in development finance. BlackRock: Reportedly exploring XRP-focused Exchange Traded Funds (ETFs), which could significantly increase institutional interest. Various Firms applying for XRP ETFs: Indicating growing institutional interest and demand for regulated exposure to XRP. Individual Users: The XRP network sees significant daily address creation, indicating a growing retail user base. Ripple's stablecoin, RLUSD, is also gaining traction among retail users despite its initial enterprise focus.

coinfeeds-bot

tldr; JPMorgan Chase views Goldman Sachs' partnership with BNY Mellon as a major advancement for tokenized money market funds, leveraging blockchain technology. The initiative involves major financial firms like BlackRock and Fidelity, aiming to expand use cases for money market funds, including their use as collateral. JPMorgan highlights the growing interest in tokenization and stablecoins amid increasing regulatory clarity, signaling broader integration with traditional financial systems. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Goldman Sachs and BNY Mellon have launched tokenized money market funds for institutional investors, leveraging blockchain technology to enable real-time settlement and liquidity management in the $7.1 trillion U.S. money market fund sector. The initiative aims to modernize financial infrastructure, offering yield-generating alternatives to cash holdings and enhancing transparency. Supported by major asset managers, the project reflects broader trends in tokenization but faces regulatory and operational challenges. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

ThriceHawk

LINK. What other projects are working with JP Morgan, SWIFT, the DTCC, Fidelity, Citi, Coinbase, Euroclear, Mastercard, BNY Melon, BNP Paribas, UBS, etc. They were just in the white house shaking hands with the president for the GENIUS Act. Idk how there is a safer bet outside of BTC/ETH.

ThriceHawk

XRP is absolutely not replacing SWIFT. SWIFT is already well integrated into blockchain using Chainlink and going live with their 11,500 member institutions in November. The banks, like JP Morgan, are already testing tokenized US treasuries with their own digital network systems using projects like Chainlink and Ondo, and also building their own deposit tokens. Others, like Citi, Euroclear, ANZ, BNY Melon, BNP Paribas, UBS, the DTCC are all already testing through SWIFT as well.

CryptoNerdSmacker

Unleash the AI: “XRP isn’t dead just because RLUSD is live — in fact, the rise of a regulated stablecoin reinforces XRP’s role as the liquidity and gas backbone that powers every transaction on XRPL. Every RLUSD swap, bridge, and payment burned or locks XRP via AMMs, boosts fees, and creates ongoing demand — unlike USDC on Algorand, this stablecoin growth directly drives XRP utility and scarcity. With live bank-grade rails (BNY, AMINA), EVM, SWIFT extensions, and looming ETFs, this isn’t hype — it’s a real institutional flywheel that Ethereum or Solana don’t have.” Solid points. Currently the breakdown of RLUSD’s transacting networks is 70/30 ETH/XRPL. RLUSD is slowly but surely gaining in market cap, with a few hundred million increase within the last 45 days. It is the most regulated stablecoin on the market at the moment. The only close second is USDC but it doesn’t have as many rails/interfaces to huge pools of liquidity like RLUSD will. RLUSD and stablecoins didn’t bury XRP, if anything they’ve breathed new life into it.

DeFinityChris

Hey Meklonar thanks for the questions Ill answer the third one first! And Ill loop back aroud to the other two ! There are a number of businesses operating in broadly the same space as us, including One Trading (a strategic partner of ours), Zodia Markets, Crossover Markets, Crypto Finance AG, Hidden Road LLC. However, none of them have as sophisticated a product offering as we do. It is our view that nobody has managed to put the pieces together to bridge digital assets with TradFi in the way we have.  What we are doing is not as easy as many might think, and there have also been a number of very heavily backed businesses trying to operate in this space, that have failed to get a viable business model up and running, and have folded, such as Pure Digital for example, which was backed by BNY Mellon and State Street.

JustStopppingBye

Ad hominem attack lol refute my points. Ripple is forced to get a 3rd party to custody their token. They’re paying BNY to do this and they call it a partnership lol I guess I have a partnership with my bank too then. Now we have more evidence that chainlink is being used a core infrastructure for banks and he tells him to “read more” Hahahahahha

JustStopppingBye

Ripple pays BNY to custody their stable and calls it a partnership. Chainlink partners with westpac to pilot blockchain enabled tokenized asset settlements using Chainlink’s Runtime Environment.

JustStopppingBye

Yes youre correct. Theyre completely delusional considering chainlink is now working with Westpac. The best ripple can do is paying BNY to custody their stable. Raid tried to push the Zeus capital story years ago. That should tell you everything about him

pilatesfarter

The legacy system is full of friction, expense and inefficiency. For cross-border tx, that’s trillions daily. Ripple, depending on the Fed charter and BNY Mellon partnership, would not need other institutions in the US to utilize their service. Other banks can transfer, domestically, and Ripple will process the transaction. In technology, you either front run transitions or get left behind. Think Netflix vs Blockbuster.

InevitableMaw

Essentially yes, Ripple is paying BNY for services.

BlackjointnerD

Did you just call BNY a local bank? You are fucking retarded..... They are responsible for like 60 trillion

OkCantaloupe4959

>Profiting from something that will ultimately fail. So you think you are smarter than the banks? I know I'm not. I'm just following where the money is going. I don't care about what a tiny subset of crypto natives think. They are less than 1% of the population. Every bank in the world will likely run their own chain. JP morgan - Kinexy. BlackRock - securitize. BNY Mellon, Goldman - Canton. BoA - Paxos Trust (permissioned stable network). ANZ - ADDX. Lloyds - WaveBL. DTCC - composerX (hyperledger).

OkCantaloupe4959

As I said before. Settlement is cheap and easily replaceable. What is the value add when the DTCC runs it's own chain? https://www.dtcc.com/digital-assets/composerx There isn't one. Chainlink however, is baked into the system. https://www.dtcc.com/dtcc-connection/articles/2024/may/16/smart-nav-pilot-report-bringing-trusted-data-to-the-blockchain-ecosystem >But feeding in data is not the same as final settlement. Chainlink is more than that. A lot more. Which you already know. XRP / XDC / Hbar are just blockchains. They are all easily replaceable. Every bank will run it's own chain... JP morgan - Kinexy. BlackRock - securitize. BNY Mellon, Goldman - Canton. BoA - Paxos Trust (permissioned stable network). ANZ - ADDX. Lloyds - WaveBL. And every single one of those chains will be completely interopable utilising CCIP. https://www.visa.com.sg/content/dam/VCOM/regional/ap/singapore/global-elements/documents/interim-report-e-hkd-pilot-programme-phase-2.pdf And every public chain in existence can fight it out for what is left, probably just retail users. How do these chains compete? They do the only thing they can. Decrease gas fees. Which will trend to zero.

vattenj

This is an interesting question about who founded USA and who are still running it I looked at those very first banks like BNY, that was established by the grounding fathers of US. At that time, they were indeed part of the state organization. But then later on, especially after Federal Reserve Act in 1913, FED become considerably more independent As I understand, the government can only appoint regional FED central bankers as FED chairman, and the government has 4 years cycle, banks want to be independent from always changing politics, so it is very difficult to say who has the real decision making power here But there is always power shifts, recently we have seen more influence from presidents, what will that bring is interesting to observe

CunningStunt_1

This gets mentioned a lot. But why would institutions care when they are running their own chains? JP Morgan; kinexy. BNY Mellon, Goldman; Canton BoA; Paxos Trust (permissioned stable network) ANZ; ADDX Lloyds; WaveBL. DTCC; composerX

admin_default

JP Morgan, BNY Mellon, Deutsche Bank, etc. have all announced work on Ethereum and ETH Layer 2s. Most have also tried internal blockchain experiments with no real adoption.

CunningStunt_1

>I disagree that “every bank will run its own chain”. JP Morgan; kinexy BNY Mellon, Goldman; Canton BoA; Paxos Trust (permissioned stable network) ANZ; ADDX Lloyds; WaveBL There is plenty of evidence. You just aren't looking for it. 2-3 chains won't win. All chains will lose equally.

critiqueextension

Major banks like JPMorgan Chase and BNY Mellon are increasingly adopting cryptocurrencies, with JPMorgan offering clients access to Bitcoin, reflecting a significant shift in traditional finance's approach to digital assets. This aligns with recent regulatory clarifications allowing US banks to engage in crypto-related activities, indicating a broader industry trend towards integration of blockchain and digital currencies. * [Bank of America CEO: Financial industry will embrace crypto if ...](https://www.cnbc.com/2025/01/21/bank-of-america-ceo-financial-industry-will-embrace-crypto-if-regulators-allow-it.html) * [JPMorgan CEO Jamie Dimon Says Bank Will Allow Bitcoin Purchases](https://www.youtube.com/watch?v=WLVJW1mTGK8) * [Why Banks In The U.S. May Be Permitted To Own Cryptocurrency](https://www.forbes.com/sites/digital-assets/2025/03/12/why-banks-in-the-us-may-be-permitted-to-own-cryptocurrency/) ^(This is a bot made by [Critique AI](https://critique-labs.ai). If you want vetted information like this on all content you browse, [download our extension](https://critiquebrowser.app).)

drugv2

This is not a matter of "maybe" or "most probably" they're gonna use ethereum. BNY Mellon who is behind this move already confirmed ethereum blockchain is to be used. Thus I raise the question for the 100th time. Why do you think Blackrock avoids any and all mention of ethereum, despite being it's current most worked-on asset?

drugv2

May: PECTRA update comes and allows validator staking >2000 eth, making it fantastically easier for whales/institutions June: US fed rates may go lower than the eth staking APY July: ETH ETF staking may be approved and all the etf providers rushing for a form amendament to allow staking. Further things down the line: RWA's coming on-chain( Fidelity, Blackrock, BNY mellon) and stablecoin growth. Scaling the L1 is \*now\* primary focus of vitalik's EF as well as the new EF. - Increase speed, lower fees even more, increase burn. MegaETH is becoming a better Solana than Solana.

drugv2

May: PECTRA coming live bringing instituion staking (>2000 eth per validator) June: US FED rates possibly coming down beneath ETH staking APY June and onwards: First ETF staking is approved by the SEC, rest of the issuers start applying Bonus plans in the next year as shared from the devs: connect the L2's through better UI, make them pay adequately security, scale L1 transaction speed and costs, make eth supply burn operate on a much lower treshold, enjoy the RWA's and stablecoin growth activity brough to you by Blackrock, Fidelity and, from last week officially, the behemonth BNY mellon. Fun fact: megaETH is becoming a better Solana than Solana itself. Do with that information what you will. Eth is dead though.

biba8163

> metrics are facts.... facts that matter Your meme narratives and scam metrics to shill ETH to gullibles are NOT facts > Ethereum is king King of what? BTC is almost 10X the marketcap of ETH. Sure Ethereum is the King of creating Shitcoin Scams Tokens but nothing else > Over 25 of the top 100 cryptocurrencies by market cap are built on Ethereum. 25 Scam Tokens! Impressive. Ethereum used to have more before. In January 2018, 32 out of the top 100 coins were ERC-20 Meme Tech vaporware rugpulls were on Ethereum. There were over 500 Ethereum ICOs in 2017/18 that stole most of investors money. These tokens and projects mostly end up the same. Only thing it proves is that Ethereum is the King of Shitcoin Scams. https://coinmarketcap.com/historical/20171228/ > Over 50% of all Total Value Locked is on Ethereum TVL is a scam metric based on scam tokens locked up to make gullible fools believe real capital is locked up instead of vaporware scam tokens. > 81% of all tokenized RWAs are on Ethereum 97% of RWA are just Stablecoins available across competing shitcoin networks including Solana, BSC, Tron, L2/Sidechains. Even if the whole world needed public blockchain tokens for transactions, the tokens would not go up in price. Competing networks that provide rails for any time of widely adopted tokenization will need to remain cheap in order to compete. Evidence here is, Stablecoin supply has gone up 120% > The world’s leading financial institutions have either launched or are developing on Ethereum, including BlackRock, Fidelity, Deutsche Bank, BNY Mellon, Visa, Sony, etc. Since March 2024, mETH Heads started shilling BlackRock BUIDL, Soneium, RWA memes and ETH is down -60% since then. It's mostly niche use cases, trials and pilots. Also, ETH Maxis said, Blackrock is only building on Ethereum. They've also started using multiple chains now including Aptos, Arbitrum, Avalanche, Optimism and Polygon. https://np.reddit.com/r/CryptoCurrency/comments/1bkm1u1/blackrock_unveils_crypto_fund_first_with_5/ > Nothing else is even close BTC has a 22% annual return over a ~7 year period. ETH returns ~1%, ETH is not even close. Hell, if you want to earn just as much as ETH at ZERO risk, then you can stake FIAT which guarantee ~5% returns which is 5X better than ETH.

admin_default

Ethereum is king. Over 25 of the top 100 cryptocurrencies by market cap are built on Ethereum. Solana has just 1 project in the top 100. Over 50% of all Total Value Locked is on Ethereum 81% of all tokenized RWAs are on Ethereum The world’s leading financial institutions have either launched or are developing on Ethereum, including BlackRock, Fidelity, Deutsche Bank, BNY Mellon, Visa, Sony, etc. https://ethereumadoption.com/ Nothing else is even close.

Numerous_Ruin_4947

Think of Ethereum as a multi-core CPU. And Solana as a single-core CPU. The world is more like a multithreaded application with many different use cases. Why would banks, institutions and companies like Sony want to share the Solana blockchain with degen MEME traders? When Trump released his MEME, Solana choked. There are threads here on Reddit where people complained about their failed transactions. Many banks have now initiated engagement with Ethereum. The oldest bank in America, BNY, just announced they would broadcast some data to Ethereum. European banks have also indicated an interest in Ethereum.

Numerous_Ruin_4947

Oh boy, if it is dying, why are banks and companies developing projects on Ethereum? Ethereum has the highest TVL and stablecoins supply. Staking is near an ATH. Transaction volume is increasing. You don't know what you're talking about. [https://www.bny.com/corporate/global/en/about-us/newsroom/press-release/bny-expands-digital-asset-platform-with-launch-of-innovative-on-chain-offering.html](https://www.bny.com/corporate/global/en/about-us/newsroom/press-release/bny-expands-digital-asset-platform-with-launch-of-innovative-on-chain-offering.html) New York, April 3, 2025 -- The Bank of New York Mellon Corporation (“BNY”) (NYSE: BK), a global financial services company, today announced the expansion of its Digital Asset Platform with the launch of its Digital Asset Data Insights product, designed to securely and efficiently deliver both on- and off-chain data across blockchain networks. The launch underscores BNY’s ambition to serve an expanded, fundamental role in the lifecycle of tokenized assets. **With the BNY data on-chain capability, BNY will broadcast select fund accounting data to the Ethereum network**, enabling further utility of public blockchains. Using smart contract technology, BNY will automate data consumption so that investors and on-chain participants may further capitalize on distributed ledger technology (DLT).

biba8163

Banks, Money Transfer companies and Financial Instituitions have stated over and over again that they cannot use shitcoins like XRP, XLM, etc which have been scamming gullible crypto investors as money transfer solutions for banks and financial institutions: Here is JP Morgan on the how Stablecoins and CBDCs are unlocking billions in value in global money transfers but shitcoins like XRP aren't used: - High volatility of XRP leading to limited willingness from banks in using it to facilitate payments - Relatively high costs owing to spreads between fiat and XRP https://www.jpmorgan.com/onyx/documents/mCBDCs-Unlocking-120-billion-value-in-cross-border-payments.pdf?trk=article-ssr-frontend-pulse_little-text-block Even Ripple has said Stablecoins are the future for *"efficiently transfer value across borders"* and they are launching their own Stablecoin: > Stablecoins like USDC offer a revolutionary pivot... efficiently transfer value across borders, bypassing traditional banking systems and eliminating many associated risks....Lower transaction costs compared to traditional banking. As low-fee alternatives to traditional money transfer methods, stablecoins can facilitate global transfers without foreign exchange fees. As the integration of stablecoins into the banking system continues, they promise to reshape the financial world, offering enhanced efficiency, inclusivity and innovation. This evolution is not just about adopting new technologies but is a step towards a more interconnected and resilient global financial system. https://ripple.com/reports/the-functional-evolution-of-digital-assets.pdf Not only are banks using Stablecoins but banking giants like JP Morgan, Mitsubishi UFJ Financial Group , etc have their own blockchain networks, coins, tokenized assets. The idea that banks and financial institutions are all going to be using XRP or XLM is a scam hype narrative to dump useless tokens on gullible crypto investors: - JPM Coin from banking giant JP Morgan is a bank coin. (Note, JPMorgan has rebranded JPM Coin to Kinexys Digital Payments) - Progmat Coin from Japanese giant Mitsubishi UFJ Financial Group is a bank coin. You will hear bankers talking about banking coins, their permissioned institution-to-institution networks that create deep liquidity pools for moving money world wide. You will never hear these big banks working with Ripple to use XRP. > We move 10 Trillion dollars around the world every day. JPM Coin institution-to-institution solution to major inefficiencies of the current payment system. . Working in a permissioned environment with companies that are trusted and trust each other. Where they can move money within the ecosystem 24/7. Today we move a billion dollars every day for a number of large companies.......the next step is how to bring a retail version of that to consumers. Obviosly central bank digital currencies are one way to do it but there is also an opportunity for banks to create commercial versions of that. That is the next version for us for innovation. https://www.bloomberg.com/news/videos/2023-10-26/jpmorgan-s-georgakopoulos-on-global-payments-strategy-video > Last year, MAS launched the Global Layer One (GL1) initiative to foster the development of a public permissioned foundational digital infrastructure, upon which commercial networks could be deployed creating an open, digital infrastructure enabling cross border transactions and global liquidity pools. Since the launch, MAS and a core group of global banks, namely BNY, Citi, J.P. Morgan, MUFG and Societe Generale-FORGE, have been leading efforts to define the business, governance, risk, legal and technology requirements of the GL1 Platform. > The Kinexys Digital Payments removes traditional treasury friction points and is ideal for managing real-time liquidity through cross-border payments beyond currency cut-off or non-banking hours, such as on banking holidays and weekends. https://developer.payments.jpmorgan.com/docs/treasury/global-payments/capabilities/global-payments-2/jpm-coin-system > Mastercard (MA) has connected its blockchain-based system for shifting tokenized assets, the Multi-Token Network (MTN), with JPMorgan’s (JPM) recently rebranded digital assets business Kinexys https://www.coindesk.com/business/2024/11/21/mastercard-and-jpmorgan-link-up-to-bring-foreign-exchange-on-the-blockchain

uncapchad

It seems all BTC service providers & custodians - RH, Coinbase, BNY Mellon, Swan, River et al - are prohibited from allowing BTC withdrawals to NY people. You may only withdraw US$ or transfer BTC to an approved, custodial service. Searches on this sub don't yield many solutions apart from perhaps trying a VPN set to a permitted State. I can't get over how you have paid for something and yet are not permitted to take ownership. Like having paid cash for a car but can only visit it in the showroom. Laws are weird.

ThriceHawk

Chainlink is integrated throughout a majority of crypto and is a crucial piece. Coinbase, Hedera, Aave, Arbitrum, Ripple, Solana, Tron, on and on... are all partnered with or integrated with Chainlink. Then, they have a massive reach into traditional finance, bridging the gap with crypto. They're partnered with SWIFT, Fidelity, The DTCC, UBS, Citi, JP Morgan, BNY Melon, BNP Paribas, Edward Jones, ANZ, Franklin Templeton, Trump's World Liberty Financial, the Central bank of Brazil, etc. SWIFT is going live in production with Chainlink later this year for their 11,500 financial institutions.

coinfeeds-bot

tldr; State Street and Citi are reportedly considering offering crypto custody services to institutional investors, traders, and large funds. State Street plans to roll out these services next year, while Citi is exploring a dual approach of developing its own services and partnering with external firms. This move follows Citi's successful proof of concept on tokenizing private funds. The trend reflects growing institutional interest in digital assets and a favorable regulatory environment. BNY Mellon is also expanding its crypto custody offerings. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

biba8163

Reminder that banking giants like JP Morgan, Mitsubishi UFJ Financial Group mentioned here, etc have their own blockchain networks, coins, tokenized assets. The idea that banks and financial institutions are all going to be using Ripple, Ethereum, or the token you're invested in is bagholder delusion. - JPM Coin from banking giant JP Morgan is a bank coin. (Note, JPMorgan has rebranded JPM Coin to Kinexys Digital Payments) - Progmat Coin from Japanese giant Mitsubishi UFJ Financial Group is a bank coin. You will hear bankers talking about banking coins, their permissioned institution-to-institution networks that create deep liquidity pools for moving money world wide. You will never hear these big banks working with Ripple to use XRP. > We move 10 Trillion dollars around the world every day. JPM Coin institution-to-institution solution to major inefficiencies of the current payment system. . Working in a permissioned environment with companies that are trusted and trust each other. Where they can move money within the ecosystem 24/7. Today we move a billion dollars every day for a number of large companies.......the next step is how to bring a retail version of that to consumers. Obviosly central bank digital currencies are one way to do it but there is also an opportunity for banks to create commercial versions of that. That is the next version for us for innovation. https://www.bloomberg.com/news/videos/2023-10-26/jpmorgan-s-georgakopoulos-on-global-payments-strategy-video > Last year, MAS launched the Global Layer One (GL1) initiative to foster the development of a public permissioned foundational digital infrastructure, upon which commercial networks could be deployed creating an open, digital infrastructure enabling cross border transactions and global liquidity pools. Since the launch, MAS and a core group of global banks, namely BNY, Citi, J.P. Morgan, MUFG and Societe Generale-FORGE, have been leading efforts to define the business, governance, risk, legal and technology requirements of the GL1 Platform. > The Kinexys Digital Payments removes traditional treasury friction points and is ideal for managing real-time liquidity through cross-border payments beyond currency cut-off or non-banking hours, such as on banking holidays and weekends. https://developer.payments.jpmorgan.com/docs/treasury/global-payments/capabilities/global-payments-2/jpm-coin-system > Mastercard (MA) has connected its blockchain-based system for shifting tokenized assets, the Multi-Token Network (MTN), with JPMorgan’s (JPM) recently rebranded digital assets business Kinexys https://www.coindesk.com/business/2024/11/21/mastercard-and-jpmorgan-link-up-to-bring-foreign-exchange-on-the-blockchain

biba8163

> It sounds like a bank coin XRP is not a bank coin. It's a scam with a pitch that it is a bank coin. - JPM Coin from banking giant JP Morgan is a bank coin. (Note, JPMorgan has rebranded JPM Coin to Kinexys Digital Payments) - Progmat Coin from Japanese giant Mitsubishi UFJ Financial Group is a bank coin. You will hear bankers talking about banking coins, their permissioned institution-to-institution networks that create deep liquidity pools for moving money world wide. You will never hear these big banks working with Ripple to use XRP. > We move 10 Trillion dollars around the world every day. JPM Coin institution-to-institution solution to major inefficiencies of the current payment system. . Working in a permissioned environment with companies that are trusted and trust each other. Where they can move money within the ecosystem 24/7. Today we move a billion dollars every day for a number of large companies.......the next step is how to bring a retail version of that to consumers. Obviosly central bank digital currencies are one way to do it but there is also an opportunity for banks to create commercial versions of that. That is the next version for us for innovation. https://www.bloomberg.com/news/videos/2023-10-26/jpmorgan-s-georgakopoulos-on-global-payments-strategy-video > Last year, MAS launched the Global Layer One (GL1) initiative to foster the development of a public permissioned foundational digital infrastructure, upon which commercial networks could be deployed creating an open, digital infrastructure enabling cross border transactions and global liquidity pools. Since the launch, MAS and a core group of global banks, namely BNY, Citi, J.P. Morgan, MUFG and Societe Generale-FORGE, have been leading efforts to define the business, governance, risk, legal and technology requirements of the GL1 Platform. > The Kinexys Digital Payments removes traditional treasury friction points and is ideal for managing real-time liquidity through cross-border payments beyond currency cut-off or non-banking hours, such as on banking holidays and weekends. https://developer.payments.jpmorgan.com/docs/treasury/global-payments/capabilities/global-payments-2/jpm-coin-system > Mastercard (MA) has connected its blockchain-based system for shifting tokenized assets, the Multi-Token Network (MTN), with JPMorgan’s (JPM) recently rebranded digital assets business Kinexys https://www.coindesk.com/business/2024/11/21/mastercard-and-jpmorgan-link-up-to-bring-foreign-exchange-on-the-blockchain

ThriceHawk

Pretty much everything tied to crypto uses Chainlink (LINK). Coinbase uses them, XRP uses them, HBAR is partnered with them, AAVE and basically all of Defi uses them. Same with TradFi now. They're partnered with SWIFT and are going in production this year for their 11,500 financial institutions. Partnered with Fidelity, US Bank, Citi, JP Morgan, Franklink Templeton, BNY Melon, USB, BNP Paribas, ANZ, etc. Trump's WLF uses them and has purchased millions of LINK. The central bank of Brazil is using them alongside Microsoft for their CBDC. The list goes on and on. That's a network effect that outpaces almost every other crypto out there and should last a long time.

Crawwarch

This is an extremely well-backed project with major backing: Coinbase, BlackRock, Wellington Investments .. who have already started the process of tokenizing real world assets. They have partnered with BlackRock and already offer tokenized US Treasuries and held a massive conference in New York yesterday with speakers from TradFi and DeFi - the founder of LINK and execs from Franklin Templeton, Mastercard, BNY, etc. They announced the launch of a new blockchain on which they will offer tokenized Wall Street assets around the world with partnerships with said brokerages already in place. Yesterday, World Liberty Financial doubled their holdings of $ONDO. It’s going to be the means by which the entire world can invest in American assets that until now have not been available.

Crawwarch

I know this is outside the things we’re allowed to “discuss” here, but the ONDO Summit kick off in New York Thursday Feb 6. I feel like we should all be paying attention. Speakers include: - The founder of LINK - Chief Assets Manager, BNY - Head of Asset Management, Blackrock - Senior VP of Asset Management, Franklin Templeton - Former Chair of the House Financial Services Committee - Execs from Pantera, Mastercard, Citi, WisdomTree, DTCC, Ripple, and Wellington Investments $ONDO is not fucking around. While some Ondo announcement is certainly possible, just the breadth of finance relationships that they are cultivating can only be bullish. Downvote if you are agitated I didn’t shit on ETH or whatever.

ThriceHawk

Is this a troll? Chainlink is the one partnered with Swift. Swift is using Chainlink's technology to allow all of their 11,500 member institutions to integrate through their existing systems with any chain. Chainlink is partnered with almost all the major financial institutions... Fidelity, JP Morgan, The DTCC, Euroclear, USB, US Bank, Citi, Franklin Templeton, BNP Paribas, BNY Mellon, etc. Swift, and therefore all of these institutions as well, are using Chainlink because companies don't want to rely on, choose, or invest resources in buidling integrations for just any one blockchain, like Ripple. With Chainlink they'll be chain agnostic, able to use any popular one or (in many cases already) use their own.

ThriceHawk

I'd honestly love to see anyone find a project in crypto more crucial, with more large name partnerships. It should be top 3. It's already securing almost all of DeFi. Coinbase just partnered with them. Trump's WLF just partnered with them, and just bought up $2M in LINK. Swift, who provides the main messaging network through which international payments are initiated for 11,500 of the largest financial institutions in the world, is in pre-production with them. Going into production next year. The Central Bank of Brazil has announced they're using Chainlink and Microsoft for their CBDC. Partnerships with Fidelity, Euroclear, USB, JP Morgan, Franklin Templeton, ANZ, US Bank, BNP Paribas, BNY Mellon, Citi... on and on.

ShotgunMessiah90

Chainlink has become a key player in connecting blockchain with traditional finance through partnerships with institutions like JPMorgan, SWIFT, and BNY Mellon. Its collaboration with JPMorgan in the Smart NAV project used CCIP to tokenize real-world assets and share NAV data across blockchains. Chainlink also partnered with SWIFT to test CCIP, enabling financial institutions to integrate with blockchain networks. These collaborations underline Chainlink’s critical role in cross-chain communication and its importance to the future of blockchain adoption in finance.

cryptolipto

That right there is a competitor to what swift and chainlink have developed. Banks are lining up around the the block to use CCIP. Not ripples solution https://blog.chain.link/chainlink-banking-capital-markets-announcements/ Swift ⬡ Depository Trust and Clearing Corporation (DTCC) ⬡ Euroclear ⬡ Clearstream ⬡ Central Bank of Brazil ⬡ JP Morgan ⬡ State Street ⬡ UBS ⬡ BNY Mellon ⬡ Citi ⬡ BNP Paribas ⬡ Edward Jones ⬡ Franklin Templeton ⬡ Wellington Management ⬡ Invesco ⬡ Fidelity International ⬡ U.S. Bank ⬡ Lloyds Banking Group ⬡ ANZ Bank ⬡ MFS Investment Management ⬡ SBI Digital Markets ⬡ American Century Investments ⬡ Vontobel ⬡ Bancolombia ⬡ Mid Atlantic Trust d/b/a American Trust Custody ⬡ Banco Inter ⬡ Sygnum Bank ⬡ Six Digital Exchange ⬡ ADDX

JustStopppingBye

Chainlink will become more valuable than Ethereum once their platform with Swift goes live. >a big role in the blockchain landscape Chainlink is playing the biggest role for banks/institutions wanting to adopt blockchain. ⬡ Swift ⬡ Depository Trust and Clearing Corporation (DTCC) ⬡ Euroclear ⬡ Clearstream ⬡ Central Bank of Brazil ⬡ JP Morgan ⬡ State Street ⬡ UBS ⬡ BNY Mellon ⬡ Citi ⬡ BNP Paribas ⬡ Edward Jones ⬡ Franklin Templeton ⬡ Wellington Management ⬡ Invesco ⬡ Fidelity International ⬡ U.S. Bank ⬡ Lloyds Banking Group ⬡ ANZ Bank ⬡ MFS Investment Management ⬡ SBI Digital Markets ⬡ American Century Investments ⬡ Vontobel ⬡ Bancolombia ⬡ Mid Atlantic Trust d/b/a American Trust Custody ⬡ Banco Inter ⬡ Sygnum Bank ⬡ Six Digital Exchange ⬡ ADDX [https://blog.chain.link/chainlink-banking-capital-markets-announcements/](https://blog.chain.link/chainlink-banking-capital-markets-announcements/)

tryagainagainn

This sub is toxic af - he’ll get tens of millions in inheritance from me, but I was just asking for help with this solo asset. You guys suck. I’ll call my guy at BNY Mellon

cryptolipto

This is what’s up: ⬡ Swift ⬡ Depository Trust and Clearing Corporation (DTCC) ⬡ Euroclear ⬡ Clearstream ⬡ Central Bank of Brazil ⬡ JP Morgan ⬡ State Street ⬡ UBS ⬡ BNY Mellon ⬡ Citi ⬡ BNP Paribas ⬡ Edward Jones ⬡ Franklin Templeton ⬡ Wellington Management ⬡ Invesco ⬡ Fidelity International ⬡ U.S. Bank ⬡ Lloyds Banking Group ⬡ ANZ Bank ⬡ MFS Investment Management ⬡ SBI Digital Markets ⬡ American Century Investments ⬡ Vontobel ⬡ Bancolombia ⬡ Mid Atlantic Trust d/b/a American Trust Custody ⬡ Banco Inter ⬡ Sygnum Bank ⬡ Six Digital Exchange ⬡ ADDX

cryptolipto

Chainlink is working with and testing their product with : Swift. Depository Trust and Clearing Corporation (DTCC). Euroclear. Clearstream. Central Bank of Brazil. JP Morgan. State Street. UBS. BNY Mellon. Citi. BNP Paribas. Edward Jones. Franklin Templeton. Wellington Management. Invesco. Fidelity International. U.S. Bank. Lloyds Banking Group. ANZ Bank. MFS Investment Management. SBI Digital Markets. American Century Investments. Vontobel. Mid Atlantic Trust d/b/a American Trust Custody. Banco Inter. Sygnum Bank. Six Digital Exchange. ADDX. https://blog.chain.link/chainlink-banking-capital-markets-announcements/

cryptolipto

Swift. Depository Trust and Clearing Corporation (DTCC). Euroclear. Clearstream. Central Bank of Brazil. JP Morgan. State Street. UBS. BNY Mellon. Citi. BNP Paribas. Edward Jones. Franklin Templeton. Wellington Management. Invesco. Fidelity International. U.S. Bank. Lloyds Banking Group. ANZ Bank. MFS Investment Management. SBI Digital Markets. American Century Investments. Vontobel. Mid Atlantic Trust d/b/a American Trust Custody. Banco Inter. Sygnum Bank. Six Digital Exchange. ADDX. https://blog.chain.link/chainlink-banking-capital-markets-announcements/

ThriceHawk

Chainlink is in pre-production with freaking Swift. They are partnered with Citi, JP Morgan, Euroclear, the DTCC, UBS, Central Bank of Brazil, Fidelity, US Bank, ANZ, BNY Mellon, BNP Paribas, Franklin Templeton, Edward Jones. They have 2,776 integrations, including a vast majority of DeFi. Tell me one other crypto that is anywhere close to those names above.

ThriceHawk

They are already in pre-production with Swift... having partnered with Citi, Fidelity, US Bank, ANZ, Euroclear, Franklin Templeton, BNP Paribas, BNY Mellon, and the freaking DTCC. Brazil's central bank just announced they're piloting their CBDC with Microsoft and Chainlink. Even the Trump backed World Liberty Financial just partnered with Chainlink. Eric Trump and Donald Trump Jr. retweeted the announcement and Eric specifically commented on the partnership with Chainlink. It's actually doing everything that those like Ripple just day they are going to do. If Chainlink even just had XRP's current marketcap, it'd be worth $137... and it should be worth more than XRP if anything.

ThriceHawk

Yes and no. XRP will need Chainlink indirectly if they are ultimately succeeding. Chainlink won't need XRP to succeed. Right now Chainlink is actually accomplishing what XRP says it will. Chainlink is in pre-production with Swift, with production going live next year. That means all the financial institutions partnering... Citi, Fidelity, BNP Paribas, BNY Melon, the DTCC, Franklin Templeton, Euroclear, etc... will have the ability to integrate with blockchain through their existing systems already in place with Swift. So why would any of them need Ripple?

ThriceHawk

If someone is invested in XRP, but not LINK... Can you explain why? I've tried being objective and following each project... I'm invested in a number of different ones... But Chainlink is constantly being announced in massive integrations. Way more than others. They are in pre-production with Swift, with actual production slated for 2025... partnering with Citi, Fidelity, BNP Paribas, BNY Melon, Euroclear, the freaking DTCC.... Brazil's central bank just announced they're partnering with Microsoft and Chainlink for their CBDC. Even from a political perspective... the Trump backed WLF just integrated Chainlink. It was retweeted by Eric and Donald Trump Jr. Someone make it make sense.

EpicHasAIDS

Self custody will not be an issue for most investors once we see more adoption. How many stock market investors are worried about their stocks disappearing? Their bonds disappearing? There's a reason people don't have physical stock certificates anymore. As the big boys become the custody leaders (ie. BNY Mellon) the only people who are going to be storing their coins in the their closet are the early adopters.

RatherCynical

The "effectively deflationary" thing - some of the previous coins historically, before we knew about crypto, that would be true. But onwards, unlikely. Cryptocurrency custodian services would start to become a thing. BNY Mellon's been offering that kind of service for a while now, the same will happen with Chase and all sorts of other big banks.

coinfeeds-bot

tldr; U.S. bank BNY Mellon has reportedly lobbied the Irish government to adopt its own crypto regulations. The bank established a crypto unit in Ireland this year to provide custodian services to institutional investors. The EU is still discussing union-wide cryptocurrency regulations, which are expected to be implemented by 2023. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

simplelifestyle

No, they can't. That's not posible with Bitcoin. Gold is a different story, it is controlled because they own it and also they can fake the numbers and hide the gold, also no audits, complete obscurity. Bitcoin is auditable by anybody, it's a transparent public ledger. We need to stop the ETF FUD. Bitcoin is a real accountable scarcity for the very first time ever. > If they sell ETF shares without buying the underlying futures they can go bankrupt or at least be fined as soon as it is found out. Then another ETF provider who simply follow the rules will take their market share and the easy fees they get for such an easy service. And it is possible to reasonably easily verify that because the futures are traded on CME (Chicago Mercantile Exchange) and the open interest data is publicly available. > > This is very different from gold because in the case of gold the best you have is the WORD of multiple private institutions saying the gold is there is in some vault. BlackRock, BNY Mellon, JP Morgan can provide whatever certificate they would like, you need to believe them. > > In the case of futures BTC, it is virtually auditable by anyone. Even a spot ETF of bitcoin is more risky in this case because, unless the issuer publicly discloses the address(es) where the bitcoins are, this is difficult to verify. One of the main reasons, I believe, for the SEC to allow for this type of ETF rather than the spot ETF is precisely this point. https://old.reddit.com/r/Bitcoin/comments/qcle7k/the_second_us_bitcoin_etf_is_set_to_start_trading/hhh3ydo/

EpicHasAIDS

How does the 35% of $206 Billion that Coinbase holds on an crypto exchange relate to Coca Cola - a drink company? It doesn't. You want to talk behemoths? In 2019 : BNY Mellon had custodianship of 25 trillion USD in assets. State Street had custodianship of 21 trillion USD in assets. JP Morgan had custodianship of 20 trillion USD in assets. Those numbers are higher today than they were 2 years ago and provide better context than the market cap of some one who sells soda. What will be interesting is when the actual heavyweights start getting a meaningful share of the crypto custody business (it's happening).

cidadefalcao

If they sell ETF shares without buying the underlying futures they can go bankrupt or at least be fined as soon as it is found out. Then another ETF provider who simply follow the rules will take their market share and the easy fees they get for such an easy service. And it is possible to reasonably easily verify that because the futures are traded on CME (Chicago Mercantile Exchange) and the open interest data is publicly available. This is very different from gold because in the case of gold the best you have is the WORD of multiple private institutions saying the gold is there is in some vault. BlackRock, BNY Mellon, JP Morgan can provide whatever certificate they would like, you need to believe them. In the case of futures BTC, it is virtually auditable by anyone. Even a spot ETF of bitcoin is more risky in this case because, unless the issuer publicly discloses the address(es) where the bitcoins are, this is difficult to verify. One of the main reasons, I believe, for the SEC to allow for this type of ETF rather than the spot ETF is precisely this point.

bastion_12x

If there's a legit custody provider, like BNY Melon, it could be done.

LeeWoolley

My two most recent hires were Kevin Taylor from BNY Mellon and Don Berk from Northern Trust.

Jtrades26

Hi fellas, Marshall - are there any mainstream VC, and partnerships in the works? Lee - what gave you the confidence to leave traditional finance at BNY Mellon (https://www.chicagobusiness.com/section/people-on-the-move/2759709) join forces with this specific crypto / blockchain company?

26United26

Take an hour and try ⚛ Protonwallet & Protonswap: Protonchain.com/wallet Protonscan.io Webauth.com Also Proton Lend is about to drop in Nov. https://blog.protonchain.com/update-on-proton-loan-and-protons-first-native-fiat-integration/ The Proton project token ***XPR*** is not going to remain a small cap for very long, and just started its climb 2-3 weeks ago. Trading @ $0.014 right now, with previous high if $0.034 in march/April. ***XPR*** has zero ⛽ fees and instant transactions using @name identity / address. The wallet provides the ability to wrap BTC, ETH, ADA, and others.. ⚛ Proton Lend is an Aave like protocol and the token is: ***LOAN*** Available on https://proton.alcor.exchange/markets You can also stake and yield farm right from the wallet with no fees in/out. They recently hired Lee Woolley & Kevin Taylor from ***BNY Mellon*** And Robert Capps from Mastercard.. Ultimately moving towards their banking license for: ***First Blockchain Bank & Trust*** 🏦 Try the platform you wont regret it.

26United26

Take an hour and try ⚛ Protonwallet & Protonswap: Protonchain.com/wallet Protonscan.io Webauth.com Also Proton Lend is about to drop in Nov. https://blog.protonchain.com/update-on-proton-loan-and-protons-first-native-fiat-integration/ The Proton project token ***XPR*** is not going to remain a small cap for very long, and just started its climb 2-3 weeks ago. Trading @ $0.014 right now, with previous high if $0.034 in march/April. ***XPR*** has zero ⛽ fees and instant transactions using @name identity / address. The wallet provides the ability to wrap BTC, ETH, ADA, and others.. ⚛ Proton Lend is an Aave like protocol and the token is: ***LOAN*** Available on https://proton.alcor.exchange/markets You can also stake and yield farm right from the wallet with no fees in/out. They recently hired Lee Woolley & Kevin Taylor from ***BNY Mellon*** And Robert Capps from Mastercard.. Ultimately moving towards their banking license for: ***First Blockchain Bank & Trust*** 🏦 Try the platform you wont regret it.

26United26

Don't invest in anything that doesn't have a clear path to mass adoption. The Dodge and Shib growth is awesome but not sustainable in my opinion, though never know. Take an hour and try ⚛ Protonwallet & Protonswap: Protonchain.com/wallet Protonscan.io Webauth.com Also Proton Lend is about to drop in Nov. https://blog.protonchain.com/update-on-proton-loan-and-protons-first-native-fiat-integration/ The Proton project token ***XPR*** is not going to remain a small cap for very long, and just started its climb 2-3 weeks ago. Trading @ $0.014 right now, with previous high if $0.034 in march/April. ***XPR*** has zero ⛽ fees and instant transactions using @name identity / address. The wallet provides the ability to wrap BTC, ETH, ADA, and others.. ⚛ Proton Lend is an Aave like protocol and the token is: ***LOAN*** Available on https://proton.alcor.exchange/markets You can also stake and yield farm right from the wallet with no fees in/out. They recently hired Lee Woolley & Kevin Taylor from ***BNY Mellon*** And Robert Capps from Mastercard.. Ultimately moving towards their banking license for: ***First Blockchain Bank & Trust*** 🏦 Try the platform you wont regret it.

EpicHasAIDS

Though this is true, these fund companies will be using the same custodians as they use for their "normal" funds (such as BNY Mellon). I'll also gently point out that owning actual bitcoin in a cold wallet isn't risk free. You have risk getting it there, you have risk keeping it there and you have risk getting it out.

manalexicon

Well BNY Mellon, one of the oldest banks, founded by the first US Treasury Secretary, Alexander Hamilton, is the largest custodial bank in the world, and they started providing custodial services for their clients Bitcoin in March, so I’d say that’s a yes.