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Laxman Pai, Opalesque Asia: Bank of New York Mellon Corp (BNY Mellon), America's oldest bank, has set up a new unit dedicated to providing its clients with 'an integrated service' for digital assets, which would cover classic cryptocurrencies and could be extended to stablecoins.
The world's largest custodian bank, which oversees about $47 trillion in assets, announced that its Digital Asset Custody platform is live in the U.S. With select clients now able to hold and transfer bitcoin and ether, this milestone reinforces BNY Mellon's commitment to supporting client demand for a trusted provider of both traditional and digital asset servicing.
BNY Mellon formed an enterprise Digital Assets Unit in 2021 to develop solutions for digital asset technology, with plans to launch the industry's first multi-asset platform that bridges digital and traditional asset custody.
"Touching more than 20% of the world's investable assets, BNY Mellon has the scale to reimagine financial markets through blockchain technology and digital assets," said Robin Vince, Chief Executive Officer and President at BNY Mellon. "We are excited to help drive the financial industry forward as we begin the next chapter in our innovation journey."
A recent survey sponsored by BNY Mellon highlights the already significant institutional demand for a resilient, scalable financial infrastructure built to accommodate both traditional and digital assets. According to the survey, almost...................... To view our full article Click here
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