BNY Mellon Readies Platform for Digital Asset Custody – FTF News

Our FinTech roundup also covers new hires at GoldenSource and Quorsus, Northern Trust’s stake in Equity Data Science, and Scotiabank’s custody provider in Europe.

Digital Assets Platform Due Later This Year

New school crypto-currency and other digital assets have gotten the blessings of the establishment with the news that BNY Mellon is creating a digital assets unit slated to create a secure infrastructure to facilitate the transfer, safekeeping, and issuance of digital assets.

The 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,” according to BNY Mellon officials.

Mike Demissie, head of Advanced Solutions at BNY Mellon, will oversee the “cross-functional, cross-business team” that will develop “a client-facing prototype that is designed to be the industry’s first multi-asset digital custody and administration platform for traditional and digital assets,” officials say.

“Pending further evaluations and approvals, we expect to begin offering these innovative and industry-shaping capabilities later this year,” says Roman Regelman, CEO of Asset Servicing and Head of Digital at BNY