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  3. BNY Mellon launches Digital Asset Custody platform
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BNY Mellon launches Digital Asset Custody platform
12 October 2022 US
Reporter: Lucy Carter

Image: yuromanovich
BNY Mellon’s Digital Asset Custody platform has gone live in the US, allowing a limited number of clients to hold and transfer bitcoin and ether.

This follows institutional demand for a financial infrastructure that works for both digital and traditional assets. A recent BNY Mellon-sponsored survey found that almost half (41 per cent) of institutional investors already hold cryptocurrency in their portfolios, and a further 15 per cent plan to do so within the next two to five years. Furthermore, 91 per cent have expressed an interest in investing in tokenised products.

BNY Mellon’s Digital Assets Unit was founded in 2021, with the goal of creating a platform to provide digital and traditional asset custody. The company has collaborated with digital asset technology specialist fintechs, Fireblocks and Chainalysis, to aid them in meeting future security and compliance requirements.

Roman Regelman, CEO of securities services and digital at BNY Mellon, says: "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.”

Caroline Butler, CEO of custody services at BNY Mellon, adds: “As the world’s largest custodian, BNY Mellon is the natural provider to create a safe and secure digital asset custody platform for institutional clients. We will continue to innovate, embrace new technology
and work closely with clients to address their evolving needs.”
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