BNY Mellon is a global financial services company with over $41 trillion in assets under management. It provides investment banking, wealth management and treasury services to individuals, corporations and governments around the world. BNY Mellon has recently ventured into cryptocurrency markets by forming a Digital Assets unit dedicated to supporting digital asset custody solutions for its clients.
The new Digital Asset unit within BNY Mellon will provide custodial services through their Bank of New York (BK) subsidiary which holds Federal Reserve membership status as well as chartered depository institution status from various states across the US. This allows them unparalleled access to crypto-currency trading networks globally while providing security and compliance oversight on behalf of their institutional customers. The firm plans to offer traditional investments such as mutual funds alongside more innovative products such as blockchain technology powered securities settlement systems that are designed for high speed transactions at low cost rates compared to existing methods used today.
In addition, BNY Mellon also announced plans for an open source platform called “Digital Yield Curve” which would allow investors direct access to its yield curve analytics – enabling real time pricing of large volumes of bonds without having manual intervention or relying on third party vendors who charge hefty fees for this service today . This marks another step forward in digitizing the way banks handle complex investing activities with cryptocurrencies being one part of it .
Finally , traders should be aware that there may be additional regulatory requirements when working with companies like BNY Mellon due to the nature of these sensitive investments – so do make sure you read any accompanying documentation thoroughly before making your decision !
