Bank of New York Mellon to custody bitcoin and other cryptocurrencies

Bank of New York Mellon (BNY Mellon), America's oldest bank, is set to custody bitcoin and other cryptocurrencies later this year.

The Wall Street Journal reported the news on Thursday, saying that the bank plans to eventually treat cryptocurrencies like any other asset.

"Digital assets are becoming part of the mainstream," said Roman Regelman, CEO of asset servicing and head of digital at BNY Mellon.

In a press statement, BNY Mellon said that its new Digital Assets unit "will accelerate the development of solutions and capabilities to help clients address growing and evolving needs related to the growth of digital assets, including cryptocurrencies."

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