A few months ago, the bank’s management provided a plan for storing bitcoin and ether, which indicated measures to protect client funds in the event of bankruptcy. The department emphasized that the plan implies compliance with legal requirements regarding the mandatory indication of the value of virtual assets on the balance sheet.
“The structure that Bank of New York Mellon Corp uses to provide custody services for digital assets can be used not only for Bitcoin and Ether,” the department noted.
BNY Mellon intends to use separate cryptocurrency wallets, each of which will have a separate account and will not be mixed with other banking assets.
Earlier, payment service provider PayPal announced an expansion of the list of services for corporate clients. Business account holders will be able to purchase, store and sell cryptocurrencies directly from their US accounts.
Source: Bits
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