BNY Mellon CEO Robin Vince: Large Banks Will Drive Next Phase of Cryptocurrency Adoption

CoinNetwork · 2026-03-24T19:33:15+00:00

BNY Mellon CEO Robin Vince stated at the Digital Asset Summit that future adoption in the cryptocurrency industry will depend on large financial institutions, emphasizing that tokenization is key. Banks can bridge traditional finance and digital assets, particularly benefiting in areas such as lending and real estate. He mentioned the need for clear regulatory frameworks, noting that the U.S. GENIUS Act has passed, while the Digital Asset Market Clarity Act is still in progress. Morgan Stanley's Amy Oldenburg also emphasized that banks' entry into crypto is based on infrastructure development rather than speculation.

CoinNetwork

2026-03-24 19:33:15

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CryptoWorld News: BNY Mellon CEO Robin Vince stated at the New York Digital Asset Summit that the next phase of adoption in the crypto industry will depend on large financial institutions, with banks connecting traditional finance and the digital asset ecosystem. Robin Vince mentioned that BNY Mellon has already provided digital asset custody services and emphasized tokenization as a key focus, including creating new digital share classes for money market funds and issuing existing products in tokenized form. He also pointed out that sectors like lending and real estate may benefit first from tokenization. Robin Vince stressed that trust and regulation will influence the industry’s development speed and called for clear regulatory frameworks and “definite rules.” He added that the US GENIUS Act has been passed, while the revised Digital Asset Market Clarity Act is still progressing. The draft still sparks controversy over how to handle stablecoin yields; the latest compromise allows rewards related to user activity but prohibits paying interest on stablecoin balances. He also noted that institutional participation still depends on security and regulation, and this process could take 5 to 15 years. Morgan Stanley’s Amy Oldenburg said that banks expanding into crypto are not doing so for speculation but as a progression after years of infrastructure development.

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