America's oldest bank, BNY Mellon, will custody Bitcoin

[Nostoman]

The chief executive of the bank's asset-servicing business says digital assets are becoming "part of the mainstream."

Bank of New York Mellon, America’s oldest bank, has announced plans to hold, transfer and issue Bitcoin (BTC) and other cryptocurrencies as an asset manager on behalf of its clients.

The impetus for the decision reportedly came from institutional investors — the top brass of BNY Mellon’s clientele — amid the 2021 bull season for the asset class. 

As the Wall Street Journal notes, BNY Mellon is hardly the first household name in traditional finance to embrace digital assets, the likes of Fidelity Investments have long been in the game. Yet it is the first national custody bank to commit to the introduction of cryptocurrency custody for its clientele in the short-term i.e. “later this year.”
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[Master107]

The chief executive of the bank's asset-servicing business says digital assets are becoming "part of the mainstream."

The pandemic triggered the world to enter and embrace the digital circle to avoid face to face transaction scenarios. Big companies are working hard to immediately response according to the present trend.  The digital asset is/will become part as mainstream in business sector globally for short term or long term asset.