The Bank of New York Mellon (NYSE:BK) said Tuesday that it has rolled out its Digital Asset Custody platform allowing some clients in the U.S. to hold and transfer bitcoin (BTC-USD) and ethereum (ETH-USD). The lender initially made plans to launch the custody platform in February. It formed an enterprise Digital Assets Unit in 2021 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," said BNY Mellon President and CEO Robin Vince. The move comes in the wake of growing institutional demand for a platform that bridges digital and traditional asset custody. According to a recent BNY Mellon (BK) survey, 91% of institutional investors are interested in investing in tokenized products, and 41% of them already hold crypto in their portfolio. Previously, (Feb. 23) BNY Mellon to use Chainalysis software for crypto compliance.
