BNY Mellon Joins 6 Major Banks in Backing New Bitcoin Exchange
Pure Digital says the first trade will take place on its platform “within a week," and that it will be a bitcoin trade between banks.The Bank of New York Mellon (BNY Mellon) announced Wednesday it will back the launch of a new London-based cryptocurrency exchange called Pure Digital, the first major bitcoin trading platform backed by a consortium of large banks. The announcement is the latest to build excitement around the as-yet-unlaunched exchange, coming just months after State Street Corporation announced it would partner with Pure Digital and marking an aggressive shift in strategy....
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Traditional financial institutions like State Street and BNY Mellon continue to get involved in the fast evolving cryptocurrency space. Bank of New York Mellon is joining a new cryptocurrency initiative by offering its custody support to a new crypto exchange backed by the American bank State Street.According to a Wednesday report by the Financial Times, BNY Mellon has joined a consortium of six banks behind the launch of London-based Pure Digital, a new crypto trading platform venture that is scheduled to execute its first Bitcoin (BTC) trade in the near future.The upcoming crypto venture....
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. […]
The New York-based multinational banking and financial services firm Bank of New York Mellon Corporation is experimenting with the potentially disruptive digital currency Bitcoin. The banking giant's dive into the Bitcoin technology comes closely after the Swiss banking major UBS announced that it will open a research lab in London to study the blockchain technology. BNY Mellon's Chief Information Officer Suresh Kumar told CIO Journal that, "We want to try it out to see the applicability of [Bitcoin] in our businesses." It is only apt that the leading banks enter this domain since Bitcoin,....
The investment bank reportedly said it will begin with the United States and then expand worldwide based on market demand. BNY Mellon, a major investment bank, is developing a digital asset custody platform that would allow institutional customers to gain crypto exposure.According to a report from City A.M., customers will be able to store the world's most popular cryptocurrencies, Bitcoin (BTC) and Ether (ETH), in BNY Mellon crypto wallets which are powered by Fireblocks technology. However, once regulatory approval has been granted, the service will gradually increase and integrate a....
As authorities in the EU are still discussing union-wide cryptocurrency regulations, a major U.S. bank has reportedly lobbied the Irish government to adopt its own rules for the space. BNY Mellon launched its digital asset business in Ireland this year to provide custodian services to institutional investors.
Banking Giant BNY Mellon Calls for Irish Crypto Regulations
U.S. banking corporation BNY Mellon, which established a crypto unit in Ireland this spring, has urged the country’s finance ministry to introduce crypto regulations while the EU rules for the space are....