BNY Mellon Shakes Up Treasury Unit for Blockchain Focus
BNY Mellon’s treasury unit has organized a new innovation group aimed at investigating and testing new technologies like blockchain. Dubbed the Global Innovation Group, the effort will be spearheaded by managing director Christopher Mager, who previously worked as the unit’s head of market segments. Officials from the bank said that the new effort is, at its core, aimed at helping the bank and its clients navigate an environment that is being reshaped by new technologies like blockchain. Treasury Services CEO Ian Stewart said in a statement: "The Global Innovation Group was created to....
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The Bank of New York Mellon, BNY Mellon, has set up a digital asset unit. The oldest bank in the U.S. plans to “hold, transfer, and issue” bitcoin and other cryptocurrencies on behalf of its clients. The bank aims to eventually treat cryptocurrencies like any other assets. BNY Mellon Gets Into Crypto The oldest bank in the U.S., BNY Mellon, announced Thursday “the formation of a new enterprise digital assets unit that will accelerate the development of solutions and capabilities to help clients address growing and evolving needs related to the growth of digital assets,....
U.S. banking corporation BNY Mellon is gearing up to offer crypto custody services out of Dublin where it has just established a digital hub. The news coincided with a stark warning issued by a top central bank official in Ireland who said people should only buy bitcoin if they’re prepared to lose money. BNY Mellon to Provide Custody for Digital Assets Through Dublin-based Unit Following a decision to enter the cryptocurrency space announced in February, the Bank of New York Mellon has now created a “Digital Innovation Hub” in Dublin. The unit will act as a custodian for....
IBM recently launched its Industry Platforms business unit in a bid to deliver blockchain solutions to its customers. According to eWeek, the company has said that the launch of last week’s blockchain unit will focus on financial services organizations in addition to other business units. IBM said: The Industry Platforms unit will focus on Watson for financial services, blockchain and strategic partnerships. Bridget van Kralingen, a fast-tracked IBM executive who has been head of IBM Global Business Services, will be in charge of the unit. Charles King, principal analyst at Pund-It said to....
The Chamber of Digital Commerce (CDC) has named bitcoin entrepreneur and banking family scion Matthew Mellon as its new honorary executive committee chairman. Mellon, who will serve the Chamber on a volunteer basis, has long been involved in the bitcoin industry, having helped found ventures like Coin.co that focus on compliance solutions for businesses using bitcoin. A former finance committee chairman for the New York State Republican Party, Mellon comes from an American family known for its deep ties in both US banking and politics. Mellon will focus on growing the level of bank....
“To me, network effect is the key.” So says Saket Sharma, CIO of New York-based financial services firm BNY Mellon's Treasury Services unit, as he outlined the bank’s approach to adopting the technology that underlies bitcoin. Last week, BNY Mellon hosted a day of seminars focused on the blockchain. The event, which drew a small but engaged crowd of BNY employees, followed months of internal development and experimentation that saw the bank pilot its own digital currency and, later, joining a consortium of financial institutions looking to implement the technology. In an interview, Sharma....