BNY has expanded its Digital Asset Platform with the launch of Digital Asset Data Insights, designed to deliver both on- and off-chain data across blockchain networks. With the data on-chain capability, BNY will broadcast select fund accounting data to the Ethereum network, enabling further utility of public blockchains. Using smart contract technology, BNY will automate data consumption so that investors and on-chain participants may further capitalise on DLT.
BlackRock will be the first client to leverage this product. BNY will broadcast fund accounting data for the BlackRock USD Institutional Digital Liquidity Fund, its tokenised short-term U.S. Treasury fund. BNY currently acts as fund administrator and custodian of the fund’s assets.