Digital assets could create a meaningful source of revenue for Bank of New York Mellon Corp. as soon as next year, according to Chief Financial Officer Emily Portney.
The firm is collaborating with Fireblocks, a unicorn fintech that enables financial institutions to store, move and issue cryptocurrencies, which is “foundational to everything we’re going to do,” Portney said in an interview on Tuesday after the firm reported fourth quarter results. The bank is now awaiting clarity from global regulators on the rules governing such cryptoassets.
