{"id":19101,"date":"2022-02-25T12:40:03","date_gmt":"2022-02-25T11:40:03","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=19101"},"modified":"2022-02-25T12:40:47","modified_gmt":"2022-02-25T11:40:47","slug":"later-this-year-bny-mellon-expects-to-deploy","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/later-this-year-bny-mellon-expects-to-deploy\/","title":{"rendered":"Later this year, BNY Mellon expects to deploy a digital asset custody platform"},"content":{"rendered":"\n
According to reports, the investment<\/a> bank, BNY Mellon, plans to start with the United States and then expand globally based on market demand.<\/h5>\n\n\n\n
\"Later<\/figure>\n\n\n\n

BNY Mellon, a large investment bank, is working on a digital asset custody infrastructure that will allow institutional customers to have exposure to cryptocurrencies.<\/p>\n\n\n\n

Customers will be able to store the world's most popular cryptocurrencies, Bitcoin (BTC) and Ether (ETH), in BNY Mellon crypto wallets powered by Fireblocks technology, according to a report by City A.M\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>. <\/p>\n\n\n\n

The service will gradually expand and include a range of tokenized traditional and digital assets if regulatory approval is given.<\/p>\n\n\n\n

According to the investment bank, the new service will be available later this year. Mellon also hinted that it would be “first to join” the global digital custody market.<\/p>\n\n\n\n

Mellon plans to start in the United States before expanding globally based on demand, according to the report. <\/p>\n\n\n\n

Talia Klein of BNY expected that the service would expand to the United Kingdom after its debut in the United States.<\/p>\n\n\n\n

\u201cI think what we\u2019re seeing in the UK is that there\u2019s a really vibrant and active digital assets market here.\u201d <\/p><\/blockquote>\n\n\n\n

The bank first announced its plans to store, transfer, and issue Bitcoin and other cryptocurrencies on behalf of its clients in February of last year. <\/p>\n\n\n\n

Grayscale Investments and BNY Mellon established a partnership in July 2021 to provide a range of services for BNY Mellon's flagship Bitcoin investment product.<\/p>\n\n\n\n

\n

Remember that crypto is capable of exponential price moves is a very short amount of time. Add institutional adoption and network affects to BTC and there is a real possibility that a strong move to the upside can happen at anytime. #btc<\/use><\/svg><\/span><\/a> #eth<\/use><\/svg><\/span><\/a> #sol<\/use><\/svg><\/span><\/a> #Crypto<\/use><\/svg><\/span><\/a><\/p>— The Meditative Mind (@aussieg7) February 22, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

BNY recently teamed with Chainalysis, a blockchain data and analysis startup, to use Chainalysis compliance software within its risk management system, according to Coinscreed.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to reports, the investment bank, BNY Mellon, plans to start with the United States and then expand globally based on market demand. BNY Mellon, a large investment bank, is working on a digital asset custody infrastructure that will allow institutional customers to have exposure to cryptocurrencies. Customers will be able to store the world’s […]<\/p>\n","protected":false},"author":34,"featured_media":19103,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[7609,194],"class_list":["post-19101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bny-mellon","tag-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/02\/images-2022-02-25T123006.120.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/19101","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=19101"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/19101\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/19103"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=19101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=19101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=19101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}