BNY has joined forces with Finstreet Limited and ADI Foundation to roll out a new digital asset custody framework in the UAE, reinforcing Abu Dhabi’s ambitions to position itself as a global hub for regulated digital finance.
The collaboration will focus on delivering secure, scalable and institutional-grade custody services for digital assets, operating under the regulatory environment of the Abu Dhabi Global Market. The initiative combines BNY’s established expertise in asset custody with Finstreet’s digital market systems and ADI Foundation’s sovereign-grade blockchain infrastructure.
The move reflects a broader push by Abu Dhabi to strengthen its role in the global financial system through advanced regulation and technology adoption. By integrating these capabilities, the partners aim to provide UAE-based clients with localized access to compliant digital asset services.
Initially, the platform will support major cryptocurrencies such as Bitcoin and Ethereum, with plans to expand into stablecoins and tokenized real-world assets. The collaboration may also extend to leveraging ADI Foundation’s blockchain network to support a wider range of financial use cases.
Industry leaders say the initiative underscores growing momentum in the UAE’s digital finance sector. Ajay Bhatia of ADI Foundation highlighted the role of regulatory clarity and infrastructure in unlocking opportunities across custody, lending and trade finance. Meanwhile, BNY’s Hani Kablawi pointed to increasing digital sophistication in the region, noting the bank’s role in bridging traditional and digital financial systems.
Finstreet co-founder Akshay Mahajan described the partnership as a step toward expanding global access to blockchain-based financial markets through Abu Dhabi.
The agreement remains subject to final approvals and regulatory clearances. Separately, International Holding Company and its partners have also introduced a UAE dirham-backed stablecoin, signaling further momentum toward institutional adoption of digital assets in the country.
