Michael Bellusci is CoinDesk’s crypto reporter focused on public companies and digital asset firms.
Client demand for crypto was the key factor in launching a crypto custody offering, said BNY Mellon (BK) CEO Robin Vince, speaking on a conference call following the lender’s third-quarter earnings release.
The world’s largest custodial bank by assets, not to mention the oldest lender in the U.S., announced last week it has added bitcoin (BTC) and ether (ETH) to its custodial offerings.
“What we’ve heard from our clients is they want institutional grade solutions in the space,” Vince said on the call, noting 75% of them are either investing or actively considering investing in digital assets, and a full 90% expect to be putting money into tokenized assets within the next few years.
Vince said BNY Mellon considers crypto to be a very long-term play, and he expects full-scale adoption to be years or even decades away. He added that the bank isn’t putting a “ton” of capital towards crypto just yet.
Sign up for Market Wrap, our daily newsletter explaining what happened today in crypto markets – and why.
By signing up, you will receive emails about CoinDesk product updates, events and marketing and you agree to our terms of services and privacy policy.
DISCLOSURE
Please note that our
and
do not sell my personal information
has been updated
.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
strict set of editorial policies.
CoinDesk is an independent operating subsidiary of
which invests in
and blockchain
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG
.
Michael Bellusci is CoinDesk’s crypto reporter focused on public companies and digital asset firms.
Michael Bellusci is CoinDesk’s crypto reporter focused on public companies and digital asset firms.
