One of the oldest banks in the US, BNY Mellon will be the first major US bank to offer customers custody services for crypto assets along with traditional investments.
Bank of New York Mellon Corporation (BNY Mellon) has received approval from New York financial regulators to store BTC and ETH on its platform. It became the first of eight systemically important US banks to offer such services to customers.
The bank will store the keys needed to access crypto assets, as well as provide the same services for digital currencies that it offers fund managers for their portfolios of stocks, bonds, commodities and other assets.
To store BTC and ETH, the bank will use software developed jointly with Fireblocks, and Chainalysis software will help the bank’s financial security service analyze and track the path that cryptoassets go through before they enter the bank.
In September, it became known that one of the main stock exchanges in the world, Nasdaq, is opening a cryptocurrency division that will offer customers services for storing digital assets, as well as tools to ensure the security of crypto companies.
Source: Bits
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