BNY Mellon Adds Custodial Services For Cryptocurrencies

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BNY Mellon; Photo Source: PYMNTS
According to BNY Mellon’s President and CEO, Robin Vince, “Touching more than 20% of the world's investable assets, BNY Mellon has the scale to reimagine financial markets through blockchain technology and digital assets.” 

The Bank of New York Mellon Corporation, America’s oldest bank, launched its digital asset custody platform for select U.S. investors. 

This makes BNY Mellon the first out of the eight major U.S. banks to offer custody services for fiat and crypto funds.

The Bank first announced its plans to venture into the crypto scene in February 2021. It also launched a digital assets unit with Fireblocks and Chainalysis in the same year.



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Robin Vince added,

"We are excited to help drive the financial industry forward as we begin the next chapter in our innovation journey." 

Earlier this fall, BNY Mellon secured approval from New York’s financial authority to provide custody services for Bitcoin and Ethereum.

These managerial services will only be available for select investment-fund firms later this week. The Bank will offer crypto managerial services to more investors once it receives approval from other regulatory authorities.

Written by
Ayush Pande
According to BNY Mellon’s President and CEO, Robin Vince, “Touching more than 20% of the world's investable assets, BNY Mellon has the scale to reimagine financial markets through blockchain technology and digital assets.” 

The Bank of New York Mellon Corporation, America’s oldest bank, launched its digital asset custody platform for select U.S. investors. 

This makes BNY Mellon the first out of the eight major U.S. banks to offer custody services for fiat and crypto funds.

The Bank first announced its plans to venture into the crypto scene in February 2021. It also launched a digital assets unit with Fireblocks and Chainalysis in the same year.



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Robin Vince added,

"We are excited to help drive the financial industry forward as we begin the next chapter in our innovation journey." 

Earlier this fall, BNY Mellon secured approval from New York’s financial authority to provide custody services for Bitcoin and Ethereum.

These managerial services will only be available for select investment-fund firms later this week. The Bank will offer crypto managerial services to more investors once it receives approval from other regulatory authorities.

Written by
Ayush Pande