BNY Mellon and BlackRock Introduce Blockchain Reporting Tool – Coincu

BNY Mellon and BlackRock have partnered to launch a blockchain-based tool named Digital Assets Data Insights. The tool posts real-time NAV data directly onto a blockchain, marking a pivotal moment for cryptocurrency accounting.

BNY Mellon’s collaboration with BlackRock led to the launch of the Digital Assets Data Insights tool. This innovation facilitates real-time NAV data publication onto blockchains, reducing dependence on third-party accounting. BlackRock’s involvement enhances credibility while providing real-time transparency and supporting tokenized financial products.

Partnership Initiates Real-Time Blockchain Reporting Tool

BNY Mellon’s collaboration with BlackRock led to the launch of the Digital Assets Data Insights tool. This innovation facilitates real-time NAV data publication onto blockchains, reducing dependence on third-party accounting. BlackRock’s involvement enhances credibility while providing real-time transparency and supporting tokenized financial products.

CoinMarketCap reports Bitcoin (BTC) price at $83,660.30 with a market cap of $1.66 trillion, marking a 4.75% rise in 24 hours. The market dominance is 62.80%, but volume has fallen 12.91%. BTC’s 90-day performance shows an 11.58% drop.

“BNY’s enablement of off-chain data insights to public blockchains is an unprecedented event and a significant milestone for the industry.” — Robert Mitchnick, Head of Digital Assets, BlackRock

Blockchain Tool Revolutionizes Traditional Financial Operations

Did you know? In 2022, BNY Mellon’s Digital Asset Custody allowed Bitcoin and Ethereum custody, showing early long-term blockchain commitment akin to today’s BlackRock partnership.

CoinMarketCap reports Bitcoin (BTC) price at $83,660.30 with a market cap of $1.66 trillion, marking a 4.75% rise in 24 hours. The market dominance is 62.80%, but volume has fallen 12.91%. BTC’s 90-day performance shows an 11.58% drop.

Moody’s Digital Asset Monitor suggests that blockchain’s integration in traditional finance fosters technological alignment and regulatory adaptation. BNY Mellon and BlackRock’s tool demonstrates blockchain’s potential to modernize financial operations, positioning them favorably for future digital asset advancements.