Key Takeaways
- • BNY has expanded its Digital Asset Platform with the launch of its Digital Asset Data Insights product, designed to securely and efficiently deliver both on-chain and off-chain data across blockchain networks.
- • BlackRock is the first client to use the product, with BNY broadcasting fund accounting data for the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), BlackRock's tokenised short-term US Treasury fund.
- • BNY already serves as fund administrator and custodian for BUIDL's assets, extending its existing role into real-time data distribution.
- • Caroline Butler, BNY's global head of digital assets, frames the launch as support for end-to-end asset lifecycle servicing on distributed ledger technology while maintaining data integrity from a trusted source.
Summary
BNY has expanded its Digital Asset Platform with the launch of its Digital Asset Data Insights product. According to the announcement, the product is designed to securely and efficiently deliver both on-chain and off-chain data across blockchain networks, addressing the need for reliable data flows as tokenised fund structures grow in institutional use.
BlackRock will be the first client to use the product. Under the arrangement, BNY will broadcast fund accounting data for the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), the firm's tokenised short-term US Treasury fund. BNY already acts as fund administrator and custodian of BUIDL's assets, so the new product builds on an existing servicing relationship rather than establishing a new one.
Caroline Butler, global head of digital assets at BNY, said the platform's support of Digital Asset Data Insights "underscores our commitment to servicing the end-to-end asset lifecycle via distributed ledger technology, while maintaining data integrity from a trusted source."
Robert Mitchnick, head of digital assets at BlackRock, said that "by enhancing data transparency and accessibility for our investors, BNY has set a new standard for digital asset innovation."
The announcement underscores the growing role of custodians and administrators in providing verifiable data infrastructure for tokenised funds, an area of increasing focus for institutional allocators evaluating blockchain-based fund products. The source material does not disclose commercial terms or pricing for the product.
BlackRock will be the first client to use the product. Under the arrangement, BNY will broadcast fund accounting data for the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), the firm's tokenised short-term US Treasury fund. BNY already acts as fund administrator and custodian of BUIDL's assets, so the new product builds on an existing servicing relationship rather than establishing a new one.
Caroline Butler, global head of digital assets at BNY, said the platform's support of Digital Asset Data Insights "underscores our commitment to servicing the end-to-end asset lifecycle via distributed ledger technology, while maintaining data integrity from a trusted source."
Robert Mitchnick, head of digital assets at BlackRock, said that "by enhancing data transparency and accessibility for our investors, BNY has set a new standard for digital asset innovation."
The announcement underscores the growing role of custodians and administrators in providing verifiable data infrastructure for tokenised funds, an area of increasing focus for institutional allocators evaluating blockchain-based fund products. The source material does not disclose commercial terms or pricing for the product.
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