Bank of New York Mellon has formed a platform to manage digital assets.
The $438 billion-asset company said in a press release that its digital asset custody platform allows clients to hold and transfer bitcoin and ether.
The move comes a year after BNY Mellon formed a unit to develop solutions for digital asset technology.
“Touching more than 20% of the world’s investable assets, BNY Mellon has the scale to reimagine financial markets through blockchain technology and digital assets,” Robin Vince, the company’s president and CEO, said in the release.
BNY Mellon, which has been working closely with several fintechs, said it integrated technology from Fireblocks and Chainalysis to meet the security and compliance needs of the bank’s clients.