BNY’s Jayee Koffey Explains What It Takes to Move Digital Assets From Pilot Experiments to Launch

Why It Matters

BNY’s push to operationalize digital‑asset pilots signals mainstream banks are ready to embed crypto services, unlocking new revenue streams and forcing the industry toward standardized, regulated infrastructure.

Key Takeaways

• BNY positions itself as trusted partner for established institutions.
• BNY also collaborates with emerging native digital‑asset firms.
• Interoperability between legacy and new players drives scalability.
• Bridging on‑chain and off‑chain systems builds ecosystem trust.
• Pilot lessons must translate into resilient, launch‑ready platforms.

Summary

In a recent interview, BNY Mellon’s digital‑asset lead Jayee Koffey outlined the firm’s roadmap for turning experimental pilots into production‑grade services. He emphasized that the industry is at a crossroads where proof‑of‑concept projects must evolve into scalable, regulated solutions.

Koffey said BNY is pursuing a two‑track approach: serving “established financial‑institution partners” that need a trusted gateway into digital assets, while simultaneously forging alliances with “higher‑quality newer emerging players” native to the blockchain space. This dual focus, he argued, creates the interoperability needed to link legacy systems with on‑chain protocols.

“When both aspects come together, you have interoperability between emerging players and some of the more established players… between on‑chain and off‑chain,” Koffey remarked, adding that such connectivity underpins broader adoption, scalability, and ecosystem resilience. He cited early pilots that tested custody, settlement and reporting as proof points.

The strategy positions BNY as a central hub that can bridge the gap between traditional finance and the fast‑moving crypto sector, offering clients a secure path to digital‑asset exposure. If successful, it could accelerate institutional participation, set new standards for compliance, and reshape how banks monetize blockchain technology.

Original Description

Alongside the IMF-World Bank Spring Meetings, BNY's Chief Global Affairs Officer speaks with Atlantic Council GeoEconomics Center Associate Director Alisha Chhangani on experimentation in digital assets, and how to move from pilot to reality.

For more, watch the full conversation.