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Bank of New York Mellon, one of the world's largest custodian banks, will establish a digital currency custody unit in 2021

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BNY Mellon manages about $41 trillion in assets.

Rhythm BlockBeats news, on February 11, Bank of New York Mellon (BNY Mellon), one of the world's largest custody banks, announced that it will launch a new digital currency custody department in 2021 to help users trade digital assets, Including cryptocurrencies.

It is understood that the Bank of New York Mellon (BNY Mellon) has assets of about 41 trillion US dollars, is Mike Demissie, head of advanced solutions at Bank of New York Mellon, one of the world's largest custodian banks, said in an interview: "The platform we built will provide services for certain categories of encrypted assets." Will be driven by client interests and needs, and we will also focus on regulatory activity to ensure we support assets that are permitted in specific markets.”

Banks such as BNY Mellon may leverage a similar handful of crypto-native custody technology companies to build custody solutions. It is reported that the hosting business relies on external partners, but has not disclosed any partner information.