BNY, the world’s largest custodian with $62.6 trillion in assets under custody, has expanded its digital asset custody platform to the European Union under the Markets in Crypto-Assets (MiCA) framework. BNY was the first global systemically important bank to launch digital asset custody when it debuted the platform in the US in 2022.
The expansion follows BNY’s Belgian banking entity being added to ESMA’s MiCA register in July 2026. Because banks are already regulated, they don’t need a separate CASP license. They give their national regulator 40 days’ notice of their planned crypto activities, and the regulator has 20 days to respond.
BNY’s platform currently supports BTC, ETH, SOL and USDC, with plans for a broader range of crypto assets and stablecoins. The bank partnered with and invested in custody technology firm Fireblocks back in 2021, and still uses multiparty computation technology and segregated client wallets as part of its custody stack.
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