BNY Mellon, America's oldest bank, launches crypto services
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.....
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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 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,....
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....
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....
The chief executive of the bank's asset-servicing business says digital assets are becoming "part of the mainstream." Bank of New York Mellon, America’s oldest bank, has announced plans to hold, transfer and issue Bitcoin (BTC) and other cryptocurrencies as an asset manager on behalf of its clients.The impetus for the decision reportedly came from institutional investors — the top brass of BNY Mellon’s clientele — amid the 2021 bull season for the asset class. As the Wall Street Journal notes, BNY Mellon is hardly the first household name in traditional finance to embrace digital assets,....