July 25, 2021

BNY Mellon Joins Launch of Crypto Platform for Banks

The holding plans to implement cryptocurrency infrastructure as digital currencies become become regulated assets.

Financial holding BNY Mellon joineda merger of six banks that are planning to launch Pure Digital, a digital asset trading platform, writes the Financial Times. According to the publication, BNY Mellon will implement the infrastructure for working with cryptocurrencies as the regulatory framework emerges.

On the launch of the Pure Digital crypto platform in AprilState Street, one of the oldest banks in the United States, reported. The platform should become a high performance trading system with physical asset delivery. Institutional investors working with the crypto platform will be able to use bilateral credit lines.

Last week, some of Bank of America clientsgot access to bitcoin futures trading. In May, the bank conducted a survey in which it found out that bitcoin is in demand among asset managers. The survey involved 216 top managers with total assets under management in the amount of $ 625 billion.