BNY to Launch Bitcoin and Ether Custody Services in Abu Dhabi via Local Partners

BNY plans to offer digital asset custody services in Abu Dhabi through local partners Finstreet and ADI Foundation, the bank said in a press release on May 7, 2026. The initiative will initially focus on custody services for bitcoin and ether before expanding to stablecoins and tokenized assets.

The partnership will build regulated digital asset infrastructure anchored in Abu Dhabi Global Market, or ADGM.

BNY, the world's largest custody bank, oversees $59 trillion in client assets. U.S. global systemically important bank to launch digital asset custody services. Its entry into the UAE reflects growing institutional adoption of blockchain technology for faster settlement and lower operational costs.

Hani Kablawi, executive vice chair at BNY, said the move aligns with the region's financial evolution. "The UAE is entering a new phase of financial development, characterized by deeper markets, greater digital sophistication and stronger global connectivity," he stated. Kablawi added that BNY's capabilities position it to bridge traditional and digital ecosystems.

"With our world-class capabilities and scale across capital markets, BNY is uniquely positioned to connect traditional and digital financial ecosystems in collaboration with our clients," Hani Kablawi said. The announcement underscores Abu Dhabi's emergence as a center for crypto firms and blockchain projects, supported by regulatory frameworks that balance innovation with oversight.

Last month, IHC and other local institutions unveiled plans for a regulated dirham-backed stablecoin aimed at government and institutional use.