BNY Mellon CEO Robin Vince: Major banks will drive the next phase of crypto industry adoption

According to Odaily, BNY Mellon CEO Robin Vince stated at the Digital Asset Summit in New York that the next phase of crypto industry adoption will depend on large financial institutions, as banks can connect traditional finance with the digital asset ecosystem.

Robin Vince mentioned that BNY Mellon already provides digital asset custody services and emphasized that tokenization is a key direction, including creating new digital share classes for money market funds and issuing existing products in tokenized form. He also pointed out that areas such as lending and real estate may be the first to benefit from tokenization.

Robin Vince stressed that trust and regulation will impact the speed of industry development, and stated that a clear regulatory framework and “definite rules” are needed. He added that the U.S. GENIUS Act has passed, while the revised Digital Asset Market Clarity Act is still advancing. There remains controversy in the draft regarding the treatment of stablecoin yields, with the latest compromise allowing rewards related to user activity but not permitting interest to be paid on stablecoin balances. He also stated that institutional participation still depends on security and regulation, and this process will take five to fifteen years.

Amy Oldenburg from an exchange said that banks’ expansion into the crypto sector is not driven by hype, but is promoted after years of infrastructure development.