Baillie Gifford

BNY is adding blockchain rails to its transfer agency business, creating an on chain ownership record for tokenized funds while maintaining existing infrastructure. Clients including Baillie Gifford, BlackRock and BNY’s Dreyfus unit are expected to use the service for tokenized fund products.

The FCA’s new crypto framework is being viewed as a major step toward regulatory clarity for digital assets in Britain. Market participants say its support for global liquidity and overseas stablecoins is promising, though authorization hurdles and unresolved DeFi questions could slow adoption.