PANews reported on October 17th that, according to CoinDesk, Bank of New York Mellon executives stated at a recent earnings conference on Thursday that the bank has brought forward several blockchain-related investments to 2025—including those supporting real-world asset settlement and tokenized payments. Executives attributed this accelerated move to a more "positive" regulatory environment and improved market conditions. When asked whether BNY Mellon plans to issue its own stablecoin, CEO Robin Vince did not give a clear answer, but stated that the bank's strategy focuses on supporting the broader ecosystem rather than launching its own branded token.

A BNY Mellon-branded stablecoin could potentially serve institutional use cases, such as settling tokenized assets or facilitating intraday liquidity. However, for now, the bank appears more focused on building flexible infrastructure than launching a product. “We’re in the business of building infrastructure and enabling capital markets, and we’re working with stablecoins and supporting other stablecoins, and that’s really at the heart of our strategy,” Vince said on the call. Furthermore, the company said it has reallocated approximately $500 million in cost savings this year to growth initiatives, including in the areas of digital assets and artificial intelligence. These efficiency gains were achieved through internal process optimization and without significantly expanding the firm’s expense base.