BNY Details Finstreet, ADI Partnership for BTC/ETH Custody Launch in UAE ADGM

BNY, overseeing $59.4 trillion in assets under custody, detailed on May 8, 2026, its strategic partnership with Finstreet Limited and ADI Foundation to establish regulated BTC and ETH custody in Abu Dhabi's ADGM, its first major Middle East expansion since U.S. services in 2022. Initial coverage erupted on May 7 with announcements targeting UAE institutions like sovereign wealth funds, starting with BTC/ETH support and phasing to stablecoins and tokenized assets pending approvals. As the first U.S. GSIB in UAE crypto custody, the news drove modest BTC gains to $81,548 (-0.50%), signaling bullish institutional flows and Abu Dhabi's rise as a crypto hub.