BNY Mellon has launched its Digital Asset Custody platform in the US on Oct 11, allowing selected clients to hold and transfer cryptocurrencies. This follows a survey it sponsored, which found that there is already a significant institutional demand for a resilient, scalable financial infrastructure built to accommodate both traditional and digital assets.
The bank formed an enterprise Digital Assets Unit back in 2021 to develop solutions for digital asset technology, with plans to launch the industry’s first multi-asset platform that bridges digital and traditional asset custody. It has has also tapped digital asset technology specialists Fireblocks and Chainalysis to meet the security and compliance needs of its clients across the digital asset space.
