The Bank of New York Mellon (NYSE:BK) Unveils Crypto Custody Platform for Clients

The oldest bank in the U.S., the Bank of New York Mellon (NYSE:BK) launched its Digital Asset Custody platform yesterday. Through the platform, some of the bank’s U.S. clients will be able to hold and transfer cryptocurrencies like Bitcoin (BTC-USD) and Ethereum (ETH-USD). This is a milestone moment for the banking industry. The BNY bank will be the first bank to store the clients' private keys needed to operate and transfer the cryptocurrency. The bank will also offer bookkeeping services on their BTC and ETH holdings, similar to services offered to institutional clients for their portfolios of various commodities.