BNY Mellon has launched its digital asset custody platform for some U.S. clients, initially supporting bitcoin and ether. It’s a major milestone because BNY Mellon is the world’s largest conventional custodian, with $43 trillion in assets under custody and administration.
“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, CEO 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.”
Last year the bank revealed the creation of a digital assets unit and followed that up by selecting Fireblocks as a technology provider in March alongside a strategic investment. Its new solution also includes technology from blockchain intelligence and risk management firm Chainalysis in which it also invested.
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