BNY, Finstreet, ADI Foundation partner to develop digital asset infra

By Aarav Garg

BNY has entered a strategic collaboration with Finstreet Limited and ADI Foundation to develop institutional digital asset custody infrastructure in the UAE, reflecting growing momentum around regulated digital finance in the Middle East.

The initiative is designed to provide UAE-based institutions with access to regulated and scalable digital asset custody services anchored in the Abu Dhabi Global Market (ADGM). The collaboration brings together BNY’s global custody capabilities with Finstreet’s digital market infrastructure and ADI Foundation’s sovereign-grade blockchain technology stack.

“This strategic collaboration is an important step in further cementing Abu Dhabi’s place as a global digital asset hub,” said Ajay Bhatia, Principal Council Member at ADI Foundation. “By combining the strength of Abu Dhabi’s advanced regulatory clarity with BNY’s globally recognised financial expertise and capabilities, ADI Chain — our sovereign-grade digital infrastructure — will unlock new opportunities in custody, trade finance, and lending from Abu Dhabi to the world.”

The project aligns with Abu Dhabi’s broader push to position itself as a regional and global hub for digital assets, supported by regulatory frameworks aimed at attracting institutional participation in blockchain-based finance. For financial institutions in the region, the development highlights increasing demand for compliant custody solutions as digital assets move further into mainstream financial infrastructure.

“The UAE is entering a new phase of financial development, characterised by deeper markets, greater digital sophistication and stronger global connectivity,” said Hani Kablawi, Executive Vice Chair at BNY. “With our world-class capabilities and scale across capital markets, BNY is uniquely positioned to connect traditional and digital financial ecosystems in collaboration with our clients.”

The initial phase of the collaboration will focus on custody support for digital assets including Bitcoin and Ethereum for clients connected to Finstreet’s ecosystem. The companies also plan to explore broader use cases tied to blockchain infrastructure and tokenised financial products over time, including stablecoins and tokenised real-world assets.

“With this strategic collaboration, Finstreet is expanding access to digital assets and blockchain technology as a trusted operating system for global markets,” commented Akshay Mahajan, Co-Founder & Group Director of Finstreet Limited. “As the primary access point for digital securities, Finstreet is the global gateway to Abu Dhabi’s financial ecosystem.”

The collaboration follows recent developments in the UAE’s digital asset sector, including initiatives tied to regulated stablecoins and tokenised financial services. Together, these moves indicate a broader shift toward integrating blockchain-based infrastructure into mainstream financial ecosystems while maintaining regulatory oversight and operational resilience.