BNY Launches On-Chain Data Insights

BNY has expanded its digital assets offering by launching Digital Asset Data Insights, a new product designed to deliver both on- and off-chain across blockchain networks.

Under the new offering, BNY will broadcast select fund accounting data to the Ethereum network, enabling further utility of public blockchains. Using smart contract technology, it will automate data consumption so that investors and on-chain participants may further capitalise on distributed ledger technology (DLT).

“Accessing transparent data is critical to our clients’ success in today’s market,” says Caroline Butler, global head of digital assets at BNY. “Our 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.”

BNY says BlackRock will be the first client to leverage the new product, with BNY broadcasting fund accounting data for the BlackRock USD Institutional Digital Liquidity Fund, its tokenised short-term US Treasury fund. BNY currently acts as fund administrator and custodian of the Fund’s assets.

“BNY’s enablement of off-chain data insights to public blockchains is an unprecedented event and a significant milestone for the industry,” says Robert Mitchnick, head of digital assets at BlackRock. “By enhancing data transparency and accessibility for our investors, BNY has set a new standard for digital asset innovation.”