The world’s largest custodian bank and America’s oldest bank, BNY Mellon, announced the debut of its new digital asset custody platform. Through this, a select group of US clients can now keep and transfer bitcoin and ether.
This accomplishment reaffirms BNY Mellon’s dedication to meeting client needs for a dependable supplier of traditional and digital asset servicing.
The statement claims that the bank will hold the private keys needed to access the funds and offer the same bookkeeping services to fund managers as they do for other assets like stocks and bonds.
“With Digital Asset Custody, we continue our journey of trust and innovation into the evolving digital assets space, while embracing leading technology and collaborating with fintechs” said Roman Regelman, CEO of Securities Services and Digital at BNY Mellon.
Trust, resilience, and innovation have been hallmarks of BNY Mellon’s 238-year history. In this spirit, BNY Mellon established an enterprise Digital Assets Unit in 2021 to create digital asset technology solutions, with ambitions to launch the industry’s first multi-asset platform that links 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.
Previously, BNY announced a partnership with Chainalysis, a blockchain data platform to assist traditional financial institutions in tracking and analysing crypto products, allowing large corporations to handle regulatory risks associated with cryptocurrencies.
“As the world’s largest custodian, BNY Mellon is the natural provider to create a safe and secure Digital Asset Custody Platform for institutional clients,” said Caroline Butler, CEO of Custody Services at BNY Mellon.
Also Read: Circle Appoints BNY Mellon as Custodian for USDC Reserves
