BNY (NYSE: BK) has joined forces with Finstreet Limited and the ADI Foundation in a partnership designed to introduce regulated, high-capacity, institutional-quality digital asset custody services rooted in the Abu Dhabi Global Market (ADGM). The initiative combines BNY’s established strengths in asset safeguarding with the innovative digital market platforms of Finstreet and the advanced blockchain framework of the ADI Foundation, aiming to position Abu Dhabi as a leading international center for compliant digital finance.
Finstreet Limited, a digital market infrastructure provider and subsidiary of International Holding Company (IHC) through Sirius International Holding, will work alongside the Abu Dhabi-based ADI Foundation, which specializes in sovereign-level blockchain systems.
Together with BNY – recognized as the world’s largest custodian and the first U.S. global systemically important bank to enter digital asset custody – the alliance seeks to create localized, secure, and expandable solutions that meet the growing demands of UAE-based clients.
The partnership reflects Abu Dhabi’s broader vision to drive innovation in global finance.
By integrating cutting-edge local infrastructure with BNY’s proven expertise, the collaboration will deliver fully compliant custody services that bridge traditional finance and emerging digital ecosystems.
Clients will gain access to reliable storage for major cryptocurrencies, starting with Bitcoin and Ethereum for Finstreet’s client network and partners.
In subsequent phases, the group plans to extend these capabilities to the ADI Foundation’s blockchain network and broaden offerings to include stablecoins, tokenized real-world assets, and additional regulated digital instruments.
“This partnership represents a key milestone in solidifying Abu Dhabi’s reputation as a premier destination for digital assets,” noted Ajay Bhatia, Principal Council Member at the ADI Foundation.
“It leverages the emirate’s progressive regulatory environment alongside BNY’s worldwide financial leadership, allowing our sovereign-grade ADI Chain to open fresh avenues in custody, trade finance, and lending that extend far beyond the region.”
Hani Kablawi, Executive Vice Chair at BNY, highlighted the UAE’s evolving financial landscape.
“The country is advancing toward deeper, more digitally sophisticated markets with enhanced international links,” he said.
“BNY’s extensive experience across capital markets uniquely equips us to fuse conventional and digital systems.”
Akshay Mahajan, Co-Founder and Group Director of Finstreet Limited, added that the effort enhances accessibility to digital assets and blockchain technology as a dependable foundation for international markets.
“As the main entry point for digital securities, Finstreet serves as Abu Dhabi’s gateway to the global financial community, reinforcing the emirate’s leadership in digital solutions,” he explained.
The project remains contingent on final agreements and necessary regulatory clearances for the involved entities and their affiliates.
It builds on recent progress in the UAE, including IHC’s introduction of a dirham-backed stablecoin fully approved by the Central Bank of the UAE and advancing toward wider institutional use. This alliance underscores a shared commitment to robust infrastructure that connects established institutional finance with the expanding digital economy.