Today BNY Mellon announced it created a Digital Assets unit and is working on a client-facing prototype to offer an integrated solution for traditional and digital asset custody, including cryptocurrencies.
“Growing client demand for digital assets, maturity of advanced solutions, and improving regulatory clarity present a tremendous opportunity for us to extend our current service offerings to this emerging field,” said Roman Regelman, CEO of Asset Servicing and Head of Digital at BNY Mellon. “Pending further evaluations and approvals, we expect to begin offering these innovative and industry-shaping capabilities later this year.”
The bank plans to combine in-house expertise with technologies from fintechs and others. Digital asset custody services need to support transfer, but BNY Mellon also plans to get involved with issuance.
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