Oldest US Bank BNY Mellon Sets Up Crypto Unit to Offer Bitcoin Services
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,....
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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....
America’s oldest bank, the Bank of New York Mellon Corporation, commonly known as BNY Mellon, has announced the financial institution can now custody cryptocurrencies. A report published by the Wall Street Journal on Tuesday, says BNY Mellon was approved by the New York State Department of Financial Services (DFS), and the bank said it was the first of eight financial heavyweights to start crypto asset custody services.
BNY Mellon to Start Custody Services for Bitcoin and Ethereum on Behalf of Its Customers
Last fall, New York’s financial regulator DFS gave BNY....
The bank will store private keys and provide bookkeeping services equivalent to those offered to fund managers in traditional assets. BNY Mellon has launched a digital custody platform to safeguards select clients' Ether and Bitcoin holdings on Oct. 11, making the America's oldest bank the first large bank in the country to offer custody of digital assets and traditional investments on the same platform. According to a statement, the bank will store private keys to access the funds and provide the same bookkeeping services offered to fund managers in other assets, such as stocks and bonds.....
Grayscale Investments has engaged the oldest bank in the U.S., BNY Mellon, to provide asset servicing for its bitcoin trust. The bank will also provide ETF services for the bitcoin trust upon its conversion to an exchange-traded fund (ETF). Grayscale Teams up With BNY Mellon Grayscale Investments announced Tuesday that it has selected the Bank of New York Mellon (BNY Mellon) as an asset servicing provider for Grayscale Bitcoin Trust (OTCQX: GBTC). The announcement explains: Through this agreement, BNY Mellon will provide Grayscale Bitcoin Trust with fund accounting and administration....
The Bank of New York Mellon Corporation (BNY Mellon), the oldest and one of the largest banks in the United States, has disclosed its investments in Bitcoin Exchange Traded Funds (ETFs). According to its recent Securities and Exchange Commission (SEC) filings, BNY Mellon has acquired stakes in spot BTC ETFs managed by BlackRock and Grayscale. […]