Key Highlights

  • BNY is expanding its digital asset services into the UAE through partnerships with Finstreet and ADI Foundation, operating within the Abu Dhabi Global Market (ADGM) regulatory framework.
  • The rollout starts with Bitcoin and Ether custody, with stablecoins and tokenized real-world assets earmarked for a later phase as the regulatory landscape across the Gulf continues to mature.
  • The expansion positions Abu Dhabi alongside Singapore and Hong Kong as one of the few jurisdictions offering institutional-grade crypto custody under an established legal framework.

BNY, the world's oldest bank and the largest custodian on the planet, is stepping up its presence in the UAE with a dedicated digital asset custody offering anchored in Abu Dhabi. The bank, which safeguards roughly $59 trillion in assets for pension funds, sovereign wealth funds, and institutional investors globally, confirmed this week it will offer crypto custody services through local partners Finstreet and ADI Foundation under the ADGM regulatory umbrella.

The initial scope covers Bitcoin and Ether, with stablecoins and tokenized real-world assets on the roadmap for a later phase. That sequencing reflects both regulatory caution and genuine demand from institutional clients who have been pushing custodians to bundle crypto alongside traditional holdings, a shift well underway in the United States and Europe that is now arriving in the Middle East in a substantive way.

Abu Dhabi has spent several years building the regulatory environment designed to attract exactly this type of business. ADGM, the emirate's international financial center, operates under an English common law framework and has established digital asset regulations that give institutional counterparties the legal certainty they need before committing capital. BNY's arrival adds a marquee name to a roster growing steadily as traditional finance firms move from exploring the Gulf to actually operating within it.

BNY leadership described the UAE as entering a new phase of financial development defined by deeper capital markets, stronger digital infrastructure, and increasing global connectivity — framing the move as a bridge between traditional and digital financial ecosystems rather than a departure from the former. For Abu Dhabi, landing a custodian of BNY's scale is more than a commercial win. As competition between financial centers to capture tokenized finance flows intensifies, having a $59 trillion custodian build local infrastructure sends the kind of signal that tends to bring other institutions in behind it.