BNY Mellon has developed a new enterprise Digital Assets unit to support the development of solutions that help clients address their needs regarding digital assets, including cryptocurrencies.
The new unit lead by Mike Demissie, head of Advanced Solutions at BNY Mellon, is currently developing a client-facing prototype designed to be a multi-asset digital custody and administration platform for traditional and digital assets.
The Digital Assets unit plans to deliver a secure infrastructure for transferring, safekeeping, and issuing digital assets. The bank will be leveraging mainly blockchain tech to improve custody and other investment services.
Pending further evaluations and approvals, the bank expects to begin offering innovative and industry-shaping capabilities later in 2021, IBS Intelligence cited Roman Regelman, CEO of Asset Servicing and Head of Digital at BNY Mellon.
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