The oldest bank in America will now be storing Bitcoin on behalf of its asset-management clients, according to the Wall Street Journal. “Digital assets are becoming part of the mainstream,” said, chief executive of BNY Mellon’s asset-servicing and digital businesses.
BNY Mellon’s announcement marks the first time one of the big custody banks has unveiled a road map for treating digital currencies as any other asset. It has created a prototype for doing this and is engaging with clients to see if they want to use it. BNY Mellon intends to begin offering these capabilities later this year.
