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CEO of Bank of New York Mellon: Large banks will play a key role in the adoption of cryptocurrencies
According to CoinDesk, Robin Vince, CEO of BNY Mellon, stated that large financial institutions will play a key role in the next phase of crypto adoption, serving as a bridge between traditional finance and digital assets.
He pointed out that tokenization is one of the key areas, including the creation of digital tokens for money market funds and new classes of stocks. Vince emphasized that trust and regulation will determine the pace of industry growth, requiring clear rules. Vince mentioned that areas with current system inefficiencies, such as lending and real estate, may benefit first from tokenization.
He also noted that the divergence between the crypto industry and traditional banks regarding the handling of stablecoin yields continues. He believes this transformation will be a long-term process of 5 to 15 years, depending on the coordinated progress of technology, regulation, and market participation.
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