BNY Mellon Plans to Service Cryptocurrencies for Its Clients
- Bank sets up new team for digital assets, including Bitcoin
- Follows Tesla’s Bitcoin investment, Mastercard’s crypto plan
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BNY Mellon will hold, transfer and issue digital currencies, a step it said was the first by a global bank to provide clients with a service for assets that could include Bitcoin.
BNY Mellon formed a new team that’s developing a multi-asset digital custody and administration platform for traditional and digital assets, the company said Thursday in a statement. Mike Demissie, head of advanced solutions, will oversee the unit.