America’s old money gets the new money

one of The United States’ oldest banks, Bank of New York Mellon, announced the expansion of it’s custody business to include cryptocurrencies such as Bitcoin. About a two minute read.

Comment: another example of institutional acceptance of cryptocurrencies which will, of course drive increased acceptance of cryptocurrencies. A classic virtuous cycle.

Excellent twitter thread with the official announcement here

Announcing the creation of the BNY Mellon Digital Assets unit – A team dedicated to building the first multi-asset custody and administration platform for traditional and digital assets, including #cryptocurrencies. https://t.co/aZ7wMfAXqg pic.twitter.com/L54TFVpJNv

— BNY Mellon (@BNYMellon) February 11, 2021