BNY Mellon, the world’s largest custodian and America’s oldest bank, has launched a digital custody platform designed to protect client holdings in both ether and bitcoin, as well as traditional financial assets.
In 2021, the bank established an enterprise Digital Assets Unit to create solutions for digital asset technology, aiming to introduce the industry’s first multi-asset platform that integrates digital and traditional asset custody.
To address the current and future security and compliance needs of clients in the digital asset space, BNY Mellon has partnered with Fireblocks and Chainalysis to incorporate their technology.
Roman Regelman, CEO of Securities Services & Digital at BNY Mellon, remarked, “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 survey funded by BNY Mellon reveals a significant institutional demand for a robust financial infrastructure that supports both traditional and digital assets. The survey shows that nearly all institutional investors (91%) are interested in investing in tokenized products. Furthermore, 41% of institutional investors currently hold cryptocurrency in their portfolios, with an additional 15% planning to include digital assets in their portfolios within the next two to five years.