cryptovibes.com
The world’s biggest custodian and America’s oldest bank, BNY Mellon, has introduced a digital custody platform for safeguarding their client holdings in Bitcoin and Ether alongside traditional financial assets.
BNY Mellon created an enterprise Digital Assets Unit in 2021 to create solutions for digital asset technology. The Unit was formed with plans to unleash the industry’s first multi-asset platform that links digital and traditional asset custody.
The bank has been partnering closely with Chainalysis and Fireblocks to incorporate their technology to meet the present and future security and compliance need of clients throughout the digital asset space.
The CEO of Securities Services & Digital at BNY Mellon, Roman Regelman, said:
“With Digital Asset Custody, we continue our journey of trust and innovation into the evolving digital assets space, while embracing leading technology and collaborating with fintechs.”
A recent study sponsored by BNY Melon indicates that there is an existing significant institutional demand for a resilient financial network built to accommodate traditional assets and digital assets. Based on the study, nearly all institutional investors (91%) are interested in investing in tokenized products.
Moreover, 41% of institutional investors hold crypto in their portfolio currently, with another 15% planning to hold digital assets in their portfolios in the next two to five years.