BNY Mellon, Will Hold That Crypto Now

04.01.23 05:53 PM

Digital HUB is an open online community of financial and data science professionals pursuing practical applications of AI in their everyday functions.  Digital HUB community provides expert, curated insights into financial applications of Generative AI, Large Language Models, Machine Learning, Data Science, Crypto Assets and Blockchain.

A key focus for The Digital HUB publication is to provide best practices for the safe deployment of AI at scale such as: assessing the ability to execute, determining an organization’s digital DNA, fostering skill development, and encouraging responsible AI.

Crypto Ecosystem

Bank of New York Mellon is now open for crypto business.  The nation’s oldest bank said it would begin receiving clients’ cryptocurrencies, becoming the first large U.S. bank to safeguard digital assets alongside traditional investments on the same platform.  The bank will store the keys required to access and transfer those assets and provide the same bookkeeping services on those digital currencies that it offers to fund managers for their portfolios of stocks, bonds, commodities and other assets.  The move marks an important milestone for traditional banks and their growing acceptance of digital assets as a legitimate market and a source of new business. 


Many investment managers remain eager to invest, according to a recent survey commissioned by BNY Mellon. Some 41% of 271 institutional investors polled by Celent in August and September said they were currently holding cryptocurrencies in their portfolios, BNY Mellon said. Another 15% they likely would in the next two to five years.  Read More

mehrzad mahdavi