BK

A former BNY executive has launched a new venture called NUVA, positioning it to capitalize on the tokenization of financial assets on Wall Street. The startup is betting that blockchain-based tokenization will fundamentally reshape traditional financial infrastructure. No established public company is identified as a direct participant or partner in the launch.

BNY is partnering with Finstreet and ADI Foundation to provide regulated institutional custody services for Bitcoin and Ethereum to clients operating out of the Abu Dhabi Global Market (ADGM) in the UAE. The arrangement marks BNY's expansion into digital asset custody in the Middle East. No financial terms were disclosed.

BNY Mellon, the world's largest custody bank, is expanding its cryptocurrency services into Abu Dhabi, marking a further push by a major traditional financial institution into digital asset custody in the Middle East. The move signals growing institutional appetite for regulated crypto infrastructure in the UAE. No specific financial terms or deal sizes were disclosed in the announcement.

U.S. equities hit all-time highs Thursday, with the S&P 500 rising 0.2% to 7,038.57 and the Nasdaq 100 gaining 0.6% for its 12th consecutive session of gains, driven by a Trump-brokered 10-day Israel-Lebanon ceasefire. WTI crude surged 2.5% to $93.58 after Iran passed legislation to impose tolls on Hormuz Strait traffic. Healthcare stocks underperformed following weak guidance from Abbott Laboratories, while energy and technology sectors led the broader advance.