The service will initially focus on bitcoin and ether for regulated clients.
Later, the deal could include stablecoins and real-world tokenized assets.
The American bank, BNY Mellon (BNY), closed an alliance with Finstreet Limited and ADI Foundation to develop digital asset custody services in Abu Dhabi, the capital of the United Arab Emirates.
As reported through a release today, May 7, 2026, The initiative will initially focus on bitcoin (BTC) and ether (ETH), and targets institutional clients within the Abu Dhabi Global Market (ADGM)an international financial center.
The agreement seeks to offer regulated custody of digital assets in that jurisdiction, combining BNY’s experience in asset safekeeping with the infrastructure of Finstreet and ADI Foundation.
As CriptoNoticias has reported, BNY Mellon is the oldest bank in the United States and has offered custody of digital assets since February 2021.
At the moment, the entity manages $59 trillion in client assetsmaking it the largest custodian bank in the world.
It is important to explain that a custodian bank does not function like a traditional retail banking entity: Its main task is to safeguard and manage financial securities (such as stocks, bonds and funds) on behalf of large institutions.
In the first stage, the project will focus on bitcoin and ETH for clients in the Finstreet ecosystem. Going forward, the companies will consider expanding the reach into stablecoins, tokenized real-world assets (RWAs), and other regulated digital instruments.
From ADI Foundation, Ajay Bhatia maintained that collaboration seeks to reinforce Abu Dhabi’s positioning as a digital asset hub. He also noted that ADI Chain’s infrastructure could be used in areas such as custody, trade finance and lending.
For his part, Hani Kablawi, executive vice president of BNY, stated that the United Arab Emirates is going through a stage of greater financial development, with deeper markets and greater digital sophistication.
The alliance is part of Abu Dhabi’s strategy to attract financial infrastructure linked to digital assets. It also coincides with recent initiatives in the region, such as the launch of DDSC, a stablecoin backed by dirhams and regulated by the central bank of the United Arab Emirates.
Finally, the companies clarified that progress will be subject to definitive agreements and corresponding regulatory approvals.