BNY Mellon CEO Robin Vince, large banks will drive the next phase of adoption in the cryptocurrency industry
By: rootdata|2026/03/24 19:51:03
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BNY Mellon CEO Robin Vince stated 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 asset ecosystem.
Robin Vince mentioned that BNY Mellon has already provided digital asset custody services and emphasized that tokenization is a key focus area, including the creation of new digital share classes for money market funds to issue existing products in tokenized form. He also pointed out that sectors such as lending and real estate may benefit first from tokenization.
Robin Vince emphasized that trust and regulation will affect the speed of industry development and stated that a clear regulatory framework with "clear rules" is needed. He added that the U.S. GENIUS Act has been passed, while the revised Digital Asset Market Clarity Act is still progressing, with ongoing controversies regarding the treatment of stablecoin yields; the latest compromise allows rewards related to user activity but does not permit interest payments on stablecoin balances. He also stated that institutional participation still relies on security and regulation, and that this process will take 5 to 15 years.
Morgan Stanley's Amy Oldenburg stated that banks expanding into the crypto space is not driven by hype, but rather a progression after years of infrastructure development.
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