US bank BNY Mellon is planning to launch a digital asset custody platform to enable institutional clients to gain exposure to crypto.
The new custody platform will allow clients to hold the world’s most popular crypto currencies bitcoin and ether in BNY Mellon crypto wallets which will be supported by Fireblocks technology. According to BNY Mellon, the launch of the new product later this year will make the investment bank “the first to enter the global digital custody space.”
“We announced last year that we were standing up for digital asset users,” Katey Neate, the chief risk officer for asset servicing and digital at BNY Mellon, told City A.M.. “The idea is that we build a digital asset platform the cornerstone of which is custody that will enable the interoperability of traditional assets and digital.”
Confident
The 238-year-old bank has been taking increasingly confident strides into the crypto space after setting up a dedicated digital asset team a year ago. The new crypto…
