$41 Trillion Global Custodian BNY Mellon Announces Bitcoin Strategy
Today, global banking and custodian heavyweight BNY Mellon announced that it is entering the Bitcoin arena with the creation of a “Digital Assets Unit.” The New York-based bank is a custodian of more than $41 trillion in assets and has $2 trillion in assets under management and The Wall Street Journal has reported that this means it will issue, hold and transfer bitcoin on behalf of its asset-management clients. According to the announcement, the Digital Assets Unit is being led by Mike Demissie, who said that it “plans to deliver a secure infrastructure for transferring, safekeeping and....
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The world’s biggest custodian bank beats rivals JPMorgan and Citi to the punch.
The firm previously said its reserves would be in cash and treasuries. On Thursday, USD Coin (USDC) operator Circle announced that it had selected financial institution BNY Mellon as the custodian of its USDC reserves. Founded in 1784, BNY Mellon is one of the oldest banks in America and possesses over $46.7 trillion in assets under custody or administration worldwide. It serves as a single point of contact for clients looking to manage their investments. With the new partnership, BNY Mellon said it will also explore the possibility of using digital cash for settlement purposes. Roman....
Bank of New York Mellon, the world’s largest custodian bank, has partnered with blockchain software firm Chainalysis to track its users’ crypto transactions. The Bank of New York (BNY) Mellon has announced a partnership with blockchain-data platform Chainalysis to help track and analyze cryptocurrency products. BNY Mellon is the world’s largest custodian bank, currently overseeing $46.7 trillion in assets. Chainalysis is a blockchain-data analysis platform that offers services to traditional financial institutions, allowing large firms to manage the legal risks that come with....
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....
Boston-based Circle Internet Financial has announced the company has selected BNY Mellon to custody the firm’s usd coin (USDC) reserves. The company’s dollar-pegged crypto asset is currently the second-largest stablecoin with a current market capitalization of $51.6 billion.
BNY Mellon to Become USDC’s Primary Custodian
Circle has chosen America’s oldest investment bank to custody the firm’s usd coin (USDC) reserves, according to an announcement published on March 31. While BNY Mellon will become the primary custodian for USDC, Circle expects....