Odaily Planet Daily News: Robin Vince, CEO of BNY Mellon, said at the Digital Asset Summit in New York that the next phase of adoption in the crypto industry will depend on large financial institutions, as banks can connect traditional finance with the digital assets ecosystem.
Robin Vince noted that BNY Mellon has already launched digital asset custody services and emphasized tokenization as a key focus, including the creation of a new class of digital shares for money market funds to tokenize existing products. He also highlighted that sectors such as lending and real estate are likely to be among the first to benefit from tokenization.
Robin Vince emphasized that trust and regulation will influence the pace of industry development, stating that a clear regulatory framework and "clear rules" are needed. He added that the U.S. GENIUS Act has been passed, while the revised Digital Asset Market Clarity Act is still under consideration; the draft remains controversial regarding the treatment of stablecoin yields, with the latest compromise allowing rewards tied to user activity but prohibiting interest payments on stablecoin balances. He also noted that institutional participation still depends on security and regulation, and that this process will take five to fifteen years.
Amy Oldenburg of Morgan Stanley said that banks' expansion into the crypto space is not driven by hype, but rather by years of infrastructure development. (CoinDesk)