Bny Mellon introduces crypto -custody service

Bny Mellon has founded a cryptocurrency custody unit in Ireland, since the introduction of cryptocurrencies continues despite falling prices

The Bank of New York Mellon Corporation (BNY MELLON), America's oldest bank, is becoming increasingly active in the cryptocurrency area. The bank has introduced a custody service for cryptocurrencies through its new digital asset unit.

according to the Business Post BNY MELLON launched the Digital Innovation Hub, and the company will offer its customers in various parts of the world. The company is regulated by the Irish Central Bank and serves as a custody account for cryptocurrencies such as Bitcoin and other digital assets such as non -fungible tokens (NFTS).

In addition, the digital innovation hub will also provide custody services for digital central bank currencies (CBDCs) as soon as they are available. According to the report, the Digital Innovation Hub will enable its customers to keep, transfer and output digital assets.

This latest development is due to the fact that large banks all over the world expand their presence in the field of cryptocurrency. In the past few months, Goldman Sachs, Morgan Stanley and JPmorgan have started to offer their customers crypto -related services. Other large banks that are currently planning to start the cryptocurrency market are Citigroup, Cowen, UBS and Deutsche Bank.

The introduction of the service takes place at a time when many are skeptical about cryptocurrencies in the traditional financial world. Derville Rowland, Director General for Financial Management at the Irish Central Bank, yesterday said that there are concerns about cryptocurrencies as an investment class. She claims that it is too speculative and currently unregulated systems. The top official of the Irish central bank added that current and future investors could lose their money if they invest in cryptocurrencies.