• Home
  • News
  • BNY Mellon Invests in Crypto Startup

BNY Mellon Invests in Crypto Startup

Bank of New York Mellon Corp. is investing in a cryptocurrency startup, the latest move by a traditional Wall Street player to embrace digital assets. The startup, Fireblocks, builds tools for the secure storage and transfer of bitcoin and other cryptocurrencies. BNY Mellon plans to use Fireblocks’s technology to underpin a new business that the bank unveiled last month, in which it plans to serve as a custodian for digital assets on behalf of institutional investors. Fireblocks has developed what is effectively a safe-deposit box for cryptocurrencies, along with a crypto version of the Swift money-transfer network used by banks. Fireblocks was founded in 2018 by veterans of Israeli military intelligence.

© 2024 Financial Information Forum

Press enter to search
Press enter to search

Interested in joining us?

Download membership kit

Key Reasons to Join

  1. Stay informed on Current Regulatory and Market Initiatives
  2. Drive Industry Issues to Successful Resolution
  3. Impact the implementation timing and methodology of new rules
  4. Apply FIF Insight Within Your Firm