BNY Mellon has no current plans to issue its own stablecoin

BNY Mellon is exploring the development of stablecoin infrastructure but has clarified that it has not made a decision to launch its own stablecoin, CoinDesk reported. According to the report, CEO Robin Vince declined to give a specific answer when asked about plans to issue a proprietary stablecoin. He stated that enabling stablecoins is a key strategy for the bank and that its business is focused on bringing them to capital markets and building the necessary infrastructure.