08:42 AM EDT, 10/07/2025 (MT Newswires) -- Bank of New York Mellon ( BK ) is planning to offer tokenized deposits to enable clients to make payments using blockchain, Bloomberg reported Tuesday quoting

Carl Slabicki, executive platform owner for Treasury Services at Bank of New York Mellon ( BK ).

The report added that this step will enable banks to reduce transaction costs on transfers, will be quicker and available round the clock.

Bloomberg added that Bank of New York Mellon ( BK ), which handles around $2.5 trillion worth of payments daily, is taking this step as part of its broader aim to modernize infrastructure which includes scaling real-time, instant and cross-border payments.

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