BNY Mellon CEO: Large banks will play a key role in cryptocurrency adoption

PANews reported on March 25th, citing CoinDesk, that Robin Vince, CEO of Bank of New York Mellon, stated that large financial institutions will play a key role in the next phase of crypto adoption, acting as a bridge between traditional finance and digital assets. He pointed out that tokenization is one of the key areas, including creating digital tokens for money market funds and new share classes. Vince emphasized that trust and regulation will determine the industry's growth rate, requiring clear rules.

Vince suggests that sectors currently hampered by systemic inefficiencies, such as lending and real estate, are likely to be among the first to benefit from tokenization. He also points out that the divergence between the crypto industry and traditional banks over the handling of stablecoin yields continues. He believes this transformation will be a long-term process of 5 to 15 years, dependent on the synergistic progress of technology, regulation, and market participation.