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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InIn a move reflecting institutional expansion into digital assets within the Gulf, BNY, the world's largest custodian bank, has launched Bitcoin and Ethereum custody services in Abu Dhabi. According to reports, this expansion aims to capture rising institutional demand, yet it arrives as a Coinbase advisory council warns that 7 million Bitcoin could be exposed to future quantum computing breaches. Experts highlight that the core vulnerability lies in 'abandoned coins' that cannot be migrated to quantum-resistant addresses, threatening the blockchain's cryptographic foundations.
BNY's entry into Abu Dhabi occurs amid intensifying regional competition, following Standard Chartered's launch of similar UAE services after securing 2024 licenses. Per market data, BNY oversees more than $45 trillion in assets globally, providing a significant scale advantage over firms like Coinbase, which remains under US regulatory pressure. The 'Post-Quantum Migration' report emphasizes that securing digital assets will require radical encryption updates to prevent future wallet compromises from advanced computing power.
Regarding instrument performance, BNY shares (listed in London as 0HLQ.L) stood at $144.41 (at close June 12, 2026) after reaching a session high of $149.31. Investors should monitor the evolving digital asset regulatory framework in the UAE, alongside upcoming US Inflation (CPI) data, which is expected to influence risk appetite across both cryptocurrency markets and global banking equities.