BNY Mellon launched a digital custody platform to safeguard select clients’ Ether (
) and Bitcoin (BTC) holdings on Oct. 11, making America’s oldest bank the first large bank in the country to offer the 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.
“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,” said Roman Regelman, CEO of securities services and digital at BNY Mellon.
BNY Mellon is 238 years old, possesses over $43 trillion in assets under custody or administration worldwide and, in 2021, formed an enterprise Digital Assets Unit to develop digital assets solutions and a platform to bridge digital and traditional asset custody. The...
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