$43,000,000,000,000 Financial Giant BNY Mellon To Offer Bitcoin (BTC) Services to Wealthy Clients: Report

October 11, 2022 The Daily Hodl

Report: The Oldest Bank in America, BNY Mellon Can Now Custody Bitcoin and Ethereum

October 11, 2022 Bitcoin.com

BNY Mellon, America’s oldest bank, launches crypto services

October 11, 2022 Coin Telegraph

Banks

The bank will store private keys and provide bookkeeping services equivalent to those offered to fund managers in traditional assets.

BNY Mellon launched a digital custody platform to safeguard select clients' Ether (ETH) and Bitcoin (BTC) holdings on Oct. 11, making America's oldest bank the first large bank in the country to offer the custody of digital assets and traditional investments on the same platform.

According to a statement, the bank will store private keys to access the funds and provide the same bookkeeping services offered to fund managers in other assets, such as stocks and bonds.

"With Digital Asset Custody, we continue our journey of trust and innovation into the evolving digital assets space, while embracing leading technology and collaborating with fintechs," said Roman Regelman, CEO of Securities Services & Digital at BNY Mellon.

BNY Mellon is 238 years old, possesses over $43.0 trillion in assets under custody or administration worldwide, and in 2021, formed an enterprise Digital Assets Unit to develop digital assets solutions and a platform to bridge digital and traditional asset custody. The bank wasgranted approval for crypto custody earlier this fall from the New York financial's authority.

A recent survey from the bank revealed that 91% of institutional investors are interested in investing in tokenized products, and 41% of them hold cryptocurrency in their portfolios.

In March, the bank was selected by Circle as the custodian of its USD Coin reserves. BNY previously announced its partnership with blockchain-data platform Chainalysis to help traditional financial institutions track and analyze cryptocurrency products, allowing large firms to manage legal risks related to cryptocurrencies.

BNY Mellon Will Hold Bitcoin and Ethereum for Clients. Here’s Why It Matters

October 11, 2022 The Crypto Briefing

Circle Partners With New York Community Bancorp — Bank to Custody USDC Reserves

June 29, 2022 Bitcoin.com

BNY Mellon, Singapore Sovereign Wealth Fund Participate in Crypto Data Platform’s $170,000,000 Fundraising Round

May 13, 2022 The Daily Hodl

Banking Giants Citi, BNY Mellon and Wells Fargo Lead $105,000,000 Raise for Crypto Infrastructure Firm

May 12, 2022 The Daily Hodl

Citi, Wells Fargo, BNY Mellon Invest in Crypto Firm Talos as Institutional Adoption of Digital Assets Accelerates

May 11, 2022 Bitcoin.com

Talos raises $105M to become the latest crypto unicorn valued at $1.3B

May 10, 2022 Coin Telegraph

Talos raises 5M to become the latest crypto unicorn valued at .3B

Andreessen Horowitz

PayPal-backed crypto firm Talos has raised fresh funding from companies like Ken Fox’s private equity firm Stripes, BNY Mellon, Citi and others.

PayPal-backed cryptocurrency firm Talos is becoming the latest unicorn in the industry, reaching a $1.25 billion valuation following new funding.

Talos has raised $105 million in Series B funding round led by a major global growth equity firm, General Atlantic, according to an announcement released on May 10.

The funding will help Talos extend its institutional-grade digital asset platform as well as accelerate the firm’s expansion into the Asia-Pacific region and Europe.

The raise featured major firms in both the traditional finance and the crypto industry, including Ken Fox’s private equity firm Stripes, BNY Mellon, Citi, Wells Fargo Strategic Capital, investment firms like DRW and SCB 10x, crypto trading platform Voyager and others.

“This investment is the latest example of BNY Mellon’s commitment to the future of digital assets,” BNY Mellon’s global FX head Jason Vitale said. He added that BNY Mellon is among new advisors on Talos’ Strategic Investor Forum working on building institutional solutions for the crypto market.

The funding round also involved existing investors from Talos’ $40 Series A round closed in May 2021, including Andreessen Horowitz, PayPal Ventures, Fidelity Investments, Castle Island Ventures, Illuminate, Notation Capital and Initialized Capital.

The funding is a major indicator of the growing institutional adoption, Talos co-founder and CEO Anton Katz said:

“This funding round represents a major inflection point for the industry. We’ve long heard that ‘the institutions are coming’. The institutions are now here, and we’re extremely proud to be the digital asset trading platform of choice for leading institutions around the world.”

Founded in 2018, Talos is an institutional-grade infrastructure technology provider in the cryptocurrency industry, offering services for trading, settlement and others.

According to the company’s website, Talos’ partner base covers a wide number of firms in the crypto ecosystem, including multiple exchanges like Binance, Coinbase and FTX, as well as over-the-counter desks and FX platforms. Talos says its institutional trading volumes surged 20x times year-over-year by May 2022.

Circle Chooses BNY Mellon to Custody USDC Reserves

April 1, 2022 Bitcoin.com

BNY Mellon

Share this video