TheDinarian
News • Business • Investing & Finance
💥Can BNY Mellon (NYSE: BK) make money from Cryptocurrency Services?💥
BNY Mellon (BK) executives are betting cryptocurrency services can rescue their bank’s revenue growth.
November 13, 2022
post photo preview

Bank of New York Mellon (BK) became the first of America’s eight systematically important banks to become a custody manager for cryptocurrency and other digital assets this fall, Reuters reports. To elaborate, the New York State Department of Financial Services gave BNY Mellon permission to hold digital currencies in its custody platform.

Consequently, BNY Mellon’s Digital Asset Custody platform is now live. BNY Mellon is building the platform with Chainlysis and Fireblocks. Chainanalysis monitors on-chain transactions and provides Know Your Transaction (KYT) and Know Your Virtual Asset Service Provider (VASP) or KYV services. Asset custody managers need KYT and KYV to deter money laundering and other illegal actions.

Fireblocks builds wallet infrastructure for cybersecurity, scalability and innovation. Thus, Fireblocks integrates BNY Mellon’s with the blockchain with multi-party computation (MPC).

BNY Mellon needs Digital Asset Custody Services

Currently, BNY Mellon (NYSE: BK) manages digital assets in 21 funds. Those funds include the Grayscale Bitcoin Trust and other crypto funds.

The Grayscale Bitcoin Trust (OTC: GBTC) had $13.191 billion in assets under management on 8 November 2022. Grayscale is the only fund, BNY Mellon currently supports, but they plan pure crypto funds.

BNY Mellon’s management believes custody of digital assets is a growing business. BNY Mellon claims to be the world’s largest asset custodian, with over $43 trillion in traditional assets under custody and $2 trillion payments cleared and settled daily.

The crypto markets are enormous. CoinMarketCap estimates the entire global Crypto Market Capitalization of was $811.13 billion on 9 November 2022. Plus, the Total Cryptocurrency 24-Hour Market Volume was $180.64 billion on 9 November 2022.

The Growing Cryptocurrency Market

Moreover, the most popular cryptocurrency Bitcoin (BTC) had a $311.926 billion Market Cap and a 100.492 billion 24-Hour Market Volume on 9 November 2022. Plus, the second-largest cryptocurrency Ethereum (ETH) had a Market Capitalization of $141.49 billion and a 24-Hour Market Volume of $38.667 billion on 9 November 2022.

The value of other digital assets is growing. For example, the 24-Hour Market Volume for all stablecoins was $172.33 billion on 9 November 2022. Stablecoins comprised 95.4% of the Global Cryptocurrency 24-Hour Market Volume on 9 November 2022. Stablecoins are popular because they are digital assets make payments in fiat currencies such as the US Dollar.

Can BNY Mellon (BK) Cash in on Stablecoins?

The most popular stablecoin, Tether (USDT), had a Market Capitalization of $69.534 billion and a 24-Hour Market Volume of $111.945 billion on 8 November 2022. Tether’s popularity is high because of the growing strength Tether makes payments in US dollars.

I think stablecoins could be an enormous opportunity for BNY Mellon (BK) because stablecoin operators hold the fiat currency they use in trust accounts and payment systems. Stablecoin holdings can be enormous. For example, Tether held $66.409 billion in assets (mostly US Treasury bills) on 30 June 2022.

Similarly, in September 2022, they claim another popular stablecoin Binance USD (BUSD) had $22 billion in net assets. Those assets comprised $5.34 billion US Treasury Debt, $14.32 billion in US Treasury Collateralized Repurchase Agreements, and $1.59 billion in cash deposits.

Stablecoins are an enormous business. Notably, CoinMarketCap estimates stablecoins accounted for 95.4% of the total crypto 24-Hour market volume on 9 November 2022. BNY Mellon can cash in stablecoins by offering custody services for stablecoin operators or offering its own stablecoin.

I think Stablecoins resemble checks and checking accounts. For example, Binance now pays interest on its BUSD stablecoin. Hence, stablecoins could be natural products for banks to offer. Another way BNY Mellon could profit from stablecoins is to buy stablecoin organizations such as Circle (the company behind the popular USD Coin (USDC) stablecoin), Tether, or Binance.

Can BNY Mellon cash in on DeFi and Central Bank Digital Currencies?

Finally, decentralized finance (DeFi) digital assets had a 24-hour Market Volume of $8.07 billion on 9 November 2022, ConMaketCap estimates.

Defi comprises digital assets built for finance, such as decentralized autonomous organizations (DAOs) and tokens issued by financial services platforms. DeFi accounted for just 4.47% of the Global 24-Hour Market Crypto Market Volume on 9 November 2022.

Interestingly, a DAO is a digital corporation they build in the blockchain. DAO’s issue tokens that serve as investments similar to stock. Some DeFi platforms sell tokens linked to lending and other financial services. Thus, the digital asset market is enormous and growing.

A final digital assets opportunity for BNY Mellon (NYSE: BK) is Central Bank Digital Currencies (CBDCs). A CBDC is a cryptocurrency or stablecoin a central bank, such as the Bank of England issues. I think CBDC could be popular because Mr. Market and consumers will treat them as fiat currencies. For example, people could view a Bank of England CBDC as pound sterling.

The New York Federal Reserve is researching and testing a wholesale CBDC (wCBDC) for use by banks and other financial institutions through its Project Cedar. The Fed has made no decision on a CBDC, yet it is developing one. I think there could be an enormous demand for a US Dollar wCBDC or CBDC because people could view it as a Digital Dollar.

Such demand could develop because the US Dollar is the global reserve currency and the world’s strongest currency. A reserve currency is the fiat currency banks and other institutions use for international transactions. One reason for BNY Mellon’s custody is its home in the USA, where it can convert assets into dollars and dollars into assets.

A Fed CBDC could grow BNY Mellon’s custody business because many people and institutions will want to convert assets into digital dollars.

Can BNY Mellon Reverse Negative Revenue Growth?

It is easy to see why BNY Mellon’s management is entering new markets. The bank is suffering from negative revenue growth.

For example, BNY Mellon’s revenue growth shrank by -16.34% in the quarter ending on 30 September 2022. Conversely, the revenues grew by 7.58% in the quarter ending on 30 June 2022.

Consequently, BNY Mellon’s quarterly revenues fell from $4.008 billion on 30 September 2021 and $4.229 billion on 30 June 2022 to $3.353 billion on 30 September 2022. I think the strong dollar and the economic chaos unleashed by the Ukraine are hurting BNY Mellon’s business, so managers are seeking additional sources of revenue.

BNY Mellon is Losing Money

Bank of New York Mellon (NYSE: BK) is losing money as its revenues fall.

For instance, BNY Mellon (NYSE: BK) reported a quarterly operating loss of -$296 million on 30 September 2022. The quarterly operating income fell from $1.095 billion on 30 June 2022 and $1.162 billion on 30 September 2021.

Similarly, Mellon’s quarterly gross profit fell from $4.035 billion on 30 September 2021 and $4.254 billion on 30 June 2022 to $3.353 billion on 30 September 2022. Thus, BNY Mellon needs more revenue, income, and profit that digital assets could provide.

Conversely, BNY Mellon’s quarterly operating cash flow grew from $2.829 billion on 30 September 2021 to $3.429 billion on 30 June 2022 to $4.99 billion on 30 September 2022. In contrast, BNY Mellon’s quarterly ending cash flow fell from $101 million on 30 September 2021 to $82 million on 30 September 2022.

BNY Mellon is a Cash-Rich Company

BNY (BK) is a cash-rich company. For example, BNY Mellon reported a quarterly ending cash flow of $9.544 billion on 30 June 2022.

Impressively, BNY Mellon reported a quarterly financing cash flow of $30.095 billion on 30 June 2022. There were also quarterly investing cash flows of $19.931 billion on 31 March 2021 and $9.306 billion on 30 September 2022.

However, BNY Mellon pays off enormous amounts of debt. It reported quarterly financing cash flows of -$14.538 billion on 30 September 2022 and -$24.127 billion on 31 March 2022. Impressively, BNY Mellon’s total debts fell from $63.785 billion on 30 September 2021 to $28.177 billion on 30 September 2022.

Another reason BNY Mellon is moving into digital assets is that it has less cash. For instance, the cash and short-term investments fell from $200.119 billion on 30 September 2021 to $162.157 billion on 30 September 2022.

I consider BNY Mellon a value investment because it has enormous amounts of cash, growing cash flow, and shrinking debts. It’s also entering new markets such as digital assets custody that could generate enormous amounts of cash.

What Value does BNY Mellon (BK) have?

Moreover, BNY Mellon’s value is shrinking. For example, the total assets fell from $470.533 billion on 30 September 2021 to $427.953 billion on 30 September 2022.

Hence, another reason BNY Mellon (BK) is entering digital asset management is shrinking value. However, I think BNY Mellon is a value investment. This is a company with $427.953 billion in assets and a $42.10 stock price on 9 November 2022.

Plus, BNY Mellon pays an impressive dividend. For instance, BK Mellon has scheduled nine 37₵ dividends between 10 November 2022 and 12 November 2024. Overall, BNY Mellon shares delivered a $1.48 forward dividend and a 3.52% dividend yield on 9 November 2022.

If you are seeking a dividend-paying stock that could profit from cryptocurrencies, stablecoins, CBDCs, and other digital assets, BNY Mellon is worth examining.

Link

community logo
Join the TheDinarian Community
To read more articles like this, sign up and join my community today
0
What else you may like…
Videos
Podcasts
Posts
Articles
Lady asks Ai - why are they really blocking out The Sun?

Finally an AI that tells it like it is..
I wish I knew which LLM this was.
If you know, please let me know in the comments.

00:02:53
🇺🇸 Elon Musk says he's "disappointed" to see the US Government's new massive spending bill.

"This increases the budget deficit and undermines the work the DOGE team is doing."

00:00:31
JUST IN: 🇺🇸 Secretary of Commerce Howard Lutnick says "tariffs are not going away."

Commerce Secretary Howard Lutnick has stated that the 10% baseline tariff on imports will likely remain in place for the foreseeable future, according to his comments on CNN's "State of the Union" on May 11, 2025.

Lutnick insists that the tariffs are not going away and that businesses and foreign countries, rather than consumers, will bear the cost of the tariffs.

Additionally, Lutnick has maintained that the baseline 10% tariff on all countries will not be reduced below this rate.

He has also emphasized that the tariffs are a necessary step to reset global trade dynamics and open up new markets for American exporters.

Despite these assurances, economists and consumer sentiment surveys generally disagree with Lutnick's stance, suggesting that consumers are likely to face increased costs due to the tariffs.

00:00:17
👉 Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

👉 Here’s what you need to know:

💠 'Based Agent' enables creation of custom AI agents
💠 Users set up personalized agents in < 3 minutes
💠 Equipped w/ crypto wallet and on-chain functions
💠 Capable of completing trades, swaps, and staking
💠 Integrates with Coinbase’s SDK, OpenAI, & Replit

👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto 👉txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

👉 Coinbase just launched an AI agent for Crypto Trading
BREAKING VERITASEUM NEWS 🚀

BREAKING: Court docs show SEC attorneys told federal judge account was 'personal' to get asset freeze in Veritaseum case. Their own filing same day showed it was corporate account. Now $9.5M settlement being challenged as #FraudUponTheCourt.

https://x.com/SovereignRiz/status/1929679624323145819?s=19

XRP is no longer a speculative digital asset

XRP is no longer a speculative digital asset it is now the centerpiece of a rapidly unifying global financial infrastructure, positioned to power everything from crossborder payments and institutional treasury to real world asset tokenization and decentralized liquidity.

Here’s a high-level overview of what’s happening

Ripple has launched its enterprise grade stablecoin RLUSD, which is now live on both XRPL and Ethereum (via burn-to-mint bridging). It’s already being used in DeFi protocols like Aave, integrated into BitMEX listings, and deployed in $25M philanthropic initiatives to showcase its utility, transparency, and real-time settlement capabilities.

Meanwhile, institutions are lining up. VivoPower raised $121 million to implement an XRP based treasury strategy, and just partnered with BitGo to secure a $100M acquisition. Webus International committed up to $300M, and Hyperscale Data added $10M signaling that corporates are buying XRP as a reserve asset for global operations.

...

post photo preview
👀XRP Listed Alongside SWIFT Under “Payment Instruction”: Here’s the Big Deal

🔹 Major Recognition: XRP has been listed alongside SWIFT under the “Payment Instruction” category, highlighting its emergence as a recognized option for global value transfer. This listing signals that XRP is now viewed as a legitimate alternative to traditional banking rails like SWIFT for initiating and processing cross-border payments.

🔹 What It Means: Being listed in the same context as SWIFT suggests that XRP’s underlying technology is mature and trusted enough for institutions to consider it on par with the world’s most established financial messaging network. This development could open the door for more banks and payment providers to integrate XRP as a settlement or bridge asset.

🔹Industry Impact: The move is seen as a significant milestone for both Ripple and the broader crypto industry. It demonstrates growing institutional acceptance of blockchain-based payment solutions and could accelerate the adoption of digital assets in mainstream financial infrastructure.

🔹Potential...

post photo preview
Fund Tokenization Prepares Asset Managers for ‘Perfect Storm’

Synopsis:

  • Great Wealth Transfer will see $84 trillion of intragenerational asset transfer over the next 20 years
  • Gen Y and Z investors favor investment in alternative asset types, which tokenization makes more investable for HNW clients
  • Tokenization encourages platform changes, and will ultimately bring additional operational benefits

A triumvirate of large-scale market changes are set to transform the asset management industry over the next decade.

With trillions of dollars worth of assets set to flow into the wallets of Gen X, Y, and Z investors, much of which will accumulate onchain, asset managers who move first to serve this new market will gain an advantage in capturing this revenue opportunity. The immediate opportunity is similar to when the ETF format was introduced in 1993, with first-mover State Street launching the SPY (SPDR S&P 500 ETF)—now one of the largest ETFs globally. The tokenized asset format is today’s generational opportunity.

Tokenization can unlock accessibility to alternative asset types and more composable assets and structures, enabling a significant change in how investors manage portfolios. With greater automation and rules-based investment allocations, entirely new strategies could also become economically viable. Integrating existing platforms with next-generation digital systems will enable the industry to modernize in stages, ultimately allowing for the adoption of new asset types at scale.

The forthcoming vicennial transformation of the industry will enable it to transform and emerge triumphant. Those at the forefront of this technology evolution stand to dominate and shape the future of asset management.

 

Great Wealth Transfer prompts global investment shake-up

The asset management industry is on the cusp of the largest wealth transfer event ever, set to last for the next two decades. Consulting firm Cerulli Associates estimates $84 trillion in assets is set to change hands as wealth passes from the baby boomer generation to Gen X, Y, and Z investors.

However, the investment behavior of these younger benefactors differs significantly from their forebears in two ways. Holding Web3 wallets and accounts on Robinhood, rather than brokerage accounts like their parents, millennials are opting for a more self-service model in their long-term holdings. Add to that the shift in risk appetite, searching for higher growth through less conventional asset types like private markets and crypto, and the need for the industry to transform quickly is clear.

Whilst the industry is not currently set up to offer this new investor class more customization, as opposed to one-size-fits-all product offerings, an 80% majority of asset managers believe customization for the masses will be an important investment strategy in the next five years.

 
 

                                          Ryan Lovell, Chainlink Labs

 

While asset managers could build their own proprietary blockchain infrastructure and smart contract systems from the ground up, that approach would require significant resources and specialized engineers, extend time to market, and be at higher risk of technical vulnerabilities or implementation errors. On the other hand, fully outsourcing the implementation would leave them with limited roadmap control, interoperability, and customizability, along with dependency risks.

Ryan Lovell, director of capital markets at Chainlink Labs, commented: “That’s why leading asset managers are taking a hybrid approach, leveraging both existing systems and Chainlink’s decentralized infrastructure to implement modular solutions that can scale across multiple blockchains.”

 

Industry transformation through tokenization

The launch of tokenized funds by firms such as BlackRock, Franklin Templeton, and Fidelity International has created a need for the fund administration industry to evolve to an onchain format. However, nearly all, 93% of fund services firms, have not automated data inputs, data checks, and key workflows, so their operations are still manually intensive, leading to increased operational costs, reduced liquidity, and missed investment opportunities. Standard transfer agent processing can take between one and three days for routine transactions, and between five and seven days for complex cases requiring additional compliance checks, cross-border settlements, or manual document verification.

“Operational efficiency is just the starting point of tokenizing funds,” said Lovell. “The real value is meeting the needs of future investors who are increasingly accumulating wealth across multiple blockchain networks.”

In order to reach this new onchain world, asset managers and their service providers may not want to make a huge investment to completely change their infrastructure, but instead adapt their existing systems to make them compatible with multiple blockchains.

For example, in November 2024, SBI Digital Markets, UBS Asset Management, and Chainlink completed the implementation of a tokenized fund to demonstrate how existing fund administration processes can be successfully made compatible with tokenized funds.

SBI Digital Markets, as a custodian and fund distributor, used smart contracts, oracle networks, and multiple blockchains to automate its processes. One of the key components was the digital transfer agent smart contract, which used multiple oracle networks from Chainlink and its blockchain-agnostic architecture to create a unified golden record.

Lovell compared the digital transfer agent to an offchain/onchain coordinator that does everything that a traditional transfer agent does, but in digital form.

“It does not replace the existing system but enables firms to be compatible with blockchain and then offer a service that can scale to all their customers,” he said. “Asset managers should be demanding this from their service providers.”

The pilot showed that a tokenized fund could maintain its share register on one blockchain while using Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to enable the processing of intensive fund lifecycle activities such as subscriptions and redemptions on different blockchains while meeting institutional security and compliance standards.

Swift, UBS Asset Management, and Chainlink also settled tokenized fund subscriptions and redemptions using the Swift network, which enables payments with fiat currencies across more than 11,500 financial institutions in over 200 countries.

                                     Winston Quek, SBI Digital Markets

Winston Quek, CEO at SBI Digital Markets, said in a statement: “This new way of launching fund structures and administering them via smart contracts empowers both fund managers and their service providers to deliver new onchain financial products and lower operational costs to investors, both things they are actively looking for.”

In addition to lowering costs, using blockchains increases transparency and allows real-time reconciliation between the fund distributor and the fund issuer. Lovell highlighted that Chainlink can also use the same architecture to enable investors who want to hold tokens that are backed by offchain assets, settle these tokens across any blockchain, incorporate data that is needed to process transactions onchain, such as NAV data, and coordinate payments between distributors and the asset managers.

In the U.S. there are requirements around private and public funds and Chainlink enables asset managers to consolidate and consume onchain record keeping while fulfilling regulatory obligations. U.S. funds also require the distributor to onboard users and buy and sell the fund while the custodian and fund accountant provide reporting data.

“We allow all of those service providers to coordinate outside of their firewalls,” said Lovell. “Chainlink’s goal is to enable the TradFi and DeFi worlds to seamlessly connect, which increases utility.”

 

The Great Wealth Transfer is driving asset management onchain

With $84 trillion set to flow from baby boomers to Gen X, Y, and Z, their demand for alternative asset types and customization will shape the future of asset management. While today’s systems may be prohibitively expensive to offer these benefits at scale, tokenization changes the economics.

Tokenized funds by BlackRock, Franklin Templeton, and Fidelity International have already proven the demand for onchain assets, while a solution by SBI Digital Markets, UBS Asset Management, and Chainlink has demonstrated the operational efficiencies of blockchain technology and how onchain assets can be provided at scale.

The choice is clear for asset managers and service providers: embrace the tokenization revolution and lead the next era of finance or risk being left behind. Those who act now will not only gain a first-mover advantage but also shape the future of the industry.

Source

🙏 Donations Accepted 🙏

If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) https://www.paypal.me/thedinarian

🔗 Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 The Dinarian

Read full Article
post photo preview
Stellar's Ecosystem Surges Forward: Smart Contracts, Lightning Speed, and Real-World Impact in 2025

The Stellar blockchain ecosystem is experiencing remarkable momentum in 2025, with groundbreaking technical achievements and expanding real-world adoption that position it as a major player in the decentralized finance landscape. From lightning-fast transaction speeds to innovative smart contract capabilities, Stellar is demonstrating that blockchain technology can deliver both performance and practical utility.

Technical Breakthroughs Drive Performance

The Stellar Development Foundation's Q1 2025 quarterly report reveals impressive technical milestones that showcase the network's maturation. The platform now processes an astounding 5,000 transactions per second with remarkably fast 2.5-second block times, putting it among the fastest blockchain networks in operation today.

This performance leap isn't just about raw numbers—it represents Stellar's commitment to creating infrastructure that can handle real-world demand. Whether it's cross-border payments, asset tokenization, or decentralized applications, the network's enhanced capabilities provide the foundation for scalable blockchain solutions.

Smart Contracts Get Smarter with Soroban

One of the most significant developments has been the launch and continued evolution of Soroban, Stellar's smart contract platform. The introduction of Contract Copilot represents a major advancement in developer experience, enabling faster and safer smart contract development through enhanced tooling and guidance.

This focus on developer experience is crucial for ecosystem growth. By lowering barriers to entry and improving the development process, Stellar is positioning itself to attract innovative projects and talented developers who might otherwise choose competing platforms.

New Token Standards Meet Market Needs

The Stellar Development Foundation has introduced new token standards developed specifically based on feedback from developers and institutional users. This responsive approach to platform development demonstrates Stellar's commitment to building technology that meets actual market needs rather than theoretical requirements.

These standards are particularly important as institutional adoption continues to grow, with organizations requiring robust, compliant, and flexible token frameworks for their blockchain initiatives.

Global USDC Integration Expands Utility

The integration of USDC across Stellar's global network represents a significant milestone for practical cryptocurrency adoption. Stablecoins like USDC provide the price stability necessary for everyday transactions and business operations, making them crucial for blockchain platforms seeking real-world utility.

This integration is particularly impactful in emerging markets, where access to stable digital currencies can provide financial services to underbanked populations and facilitate more efficient cross-border transactions.

Industry Events Build Community Momentum

The Stellar ecosystem's growing influence is evident in its presence at major industry events. The foundation's participation as a sponsor at Consensus 2025 in Toronto and Digital Assets Week in New York demonstrates its commitment to engaging with builders, investors, and institutional leaders across the blockchain space.

These events serve as crucial networking opportunities and platforms for showcasing innovative projects within the Stellar ecosystem. Recent Meridian events have highlighted creative projects like Skyhitz and HoneyCoin, illustrating the collaborative spirit and diverse applications being built on the platform.

Real-World Impact in Emerging Markets

Perhaps most importantly, Stellar's growth isn't just about technical metrics—it's about real-world impact. The platform's focus on emerging markets addresses genuine financial inclusion challenges, providing efficient payment rails and access to digital financial services where traditional banking infrastructure may be limited.

This practical approach to blockchain implementation sets Stellar apart from projects that focus primarily on speculative trading or theoretical use cases. By solving actual problems for real users, Stellar is building sustainable demand for its technology.

Looking Ahead: Enterprise-Grade Infrastructure

Stellar positions itself as offering enterprise-grade asset tokenization alongside its DeFi capabilities and payment infrastructure. This comprehensive approach makes it attractive to institutions looking for a single platform that can handle multiple blockchain use cases.

The combination of fast transactions, low costs, smart contract capabilities, and regulatory-conscious development creates a compelling value proposition for enterprises considering blockchain adoption.

The Road Forward

As 2025 progresses, Stellar's ecosystem appears well-positioned for continued growth. The technical infrastructure improvements, developer-focused enhancements, and real-world adoption initiatives create a strong foundation for expanding use cases and user adoption.

The blockchain industry has seen many projects promise revolutionary capabilities, but Stellar's focus on delivering measurable performance improvements and practical solutions suggests a mature approach to blockchain development. With transaction speeds that rival traditional payment systems and growing institutional adoption, Stellar is demonstrating that blockchain technology can move beyond experimental phases into mainstream utility.

For developers, institutions, and users looking for blockchain solutions that prioritize both performance and practical applicability, Stellar's 2025 developments represent significant progress toward a more accessible and useful decentralized financial ecosystem.

Source: The Dinarian ⚡ Claude AI

🙏 Donations Accepted 🙏

If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) https://www.paypal.me/thedinarian

🔗 Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 The Dinarian

Read full Article
post photo preview
Soroban Security Audit Bank: Raising the Standard for Smart Contract Security

The Stellar Development Foundation (SDF) is deeply committed to helping ensure that the highest security standards are available for projects building on the Stellar network. Last year SDF launched the Soroban Security Audit Bank, an initiative to provide projects access to auditing experts and tooling that are proven to help prevent hacks by catching potential bugs, inefficiencies, and security flaws before contracts go live. Through the Soroban Security Audit Bank, we’re empowering teams building on Soroban with comprehensive security audits from leading audit firms, enhanced readiness support, and robust tooling, significantly elevating the ecosystem’s safety and efficiency.

Since launch, the Soroban Security Audit Bank has successfully conducted over 40 essential audits, deploying over $3 million to support security of the smart contracts on Stellar. Check it out!

 

Ecosystem Success Stories: How the Soroban Audit Bank Drives Security Forward

By making automated formal verification available to developers, in addition to allocating significant budget for securing many of the top DeFi protocols built on top of Stellar, SDF has established a new security standard in the Web3 ecosystem. Mooly Sagiv, Co-Founder of Certora
SDF has been a strong partner as we’ve worked with teams across the Stellar ecosystem. SDF’s Audit Bank initiative allows for a smooth and streamlined review process, and is a clear reflection of the Stellar ecosystem’s enhanced commitment to security. Robert Chen, CEO of OtterSec
 

Leading projects within the Soroban ecosystem have highlighted the impact of the Audit Bank

Finding a good auditor is difficult, expensive, and high-stakes. The Audit Bank streamlines the process and supports ecosystem projects with security review at critical growth milestones. Markus Paulson, Co-Founder of Script3
The audit firms we worked with deeply understood the full ecosystem and the underlying protocols used. Their expertise and the tools from the Audit Bank strengthened our security and supported user and investor trust. Esteban Iglesias Manríquez, Co-Founder of Palta.Labs

What's New in 2025: Enhanced Audit Support for Soroban Builders

Teams building financial protocols, high-dependency data services, high-traction dApps funded by the Stellar Community Fund are able to request an audit and will typically be matched with a reputable audit firm within two weeks. We recently restructured the program for this year to enhance audit efficiency and incentivize accountability, and rapid and complete vulnerability remediation:

  • Complimentary Initial Audit: Projects will need to contribute 5% of the audit cost upfront, but this co-payment amount is eligible for a full refund, provided that critical, high, and medium vulnerabilities identified are swiftly remediated within 20 business days of receiving the initial audit report (learn more).
  • Incentivized Security at Key Traction Milestones: Complimentary, extensive follow-up audits are available as projects achieve critical traction milestones (e.g., $10M and $100M TVL). These audits include deeper assessments such as formal verification or competitive audits, significantly boosting project security at pivotal stages.
  • Advanced Security Tooling: Projects can enhance their security self-serve through complimentary or discounted access to specialized tooling, which provide vulnerability detection and formal verification capabilities (see full list of available tooling). These tools are encouraged to capture ‘easy-to-spot’ issues prior to audit as well as a final check post-audit to increase the effectiveness and thoroughness of audits.
  • Enhanced Audit Readiness Support: Projects receive structured preparation support, including the implementation of best practices and security standards based on the STRIDE threat modeling framework. This ensures project teams are thoroughly prepared, optimizing audit efficiency and minimizing delays.

Get Started Today

If you're already funded through the Stellar Community Fund, meet the criteria and ready to secure your smart contracts, check your email for an invitation to submit an audit request–if you haven’t received one, contact [email protected].

If you haven't built on Stellar yet, we encourage you to start your journey with the Stellar Community Fund to become eligible for future security audits and ecosystem support. For any broader questions on the program, contact [email protected].

Also, we’re organizing an exciting series of workshops–join us for the kick-off on Soroban Security Best Practices on Friday, May 30, 2025 at 2 PM ET on @StellarOrg. Together, we're shaping a secure and resilient future for smart contracts on Stellar.

Source

🙏 Donations Accepted 🙏

If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) https://www.paypal.me/thedinarian

🔗 Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 The Dinarian

Read full Article
See More
Available on mobile and TV devices
google store google store app store app store
google store google store app tv store app tv store amazon store amazon store roku store roku store
Powered by Locals